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Robert E. Lucas' Economic Philolosophy
Who was Robert E. Lucas, Jr and what was his economic philosophy?
What is the Lucas Critique, and how does it relate to his philosophy?
How did Lucas contribute to the development of the Keynesian economics?
What was his concern with economic growth and development?
Did he focused on USA economics only or did he also focused the economics of other countries?
Elucidate how might raise the chance that the employee would retire earlier as compared with the situation where the employee had to pay for his own health insurance.
Explain how the aggregate expenditure function shifts in response to changes in each of the following variables:
You are a member of the City Council of Mid ville , California, a town of 10,000 residents, comprised primarily of 'middle-class' blue-collar laborers.
Suppose that natural real GDP is constant. For every 1 percent increase in the rate of inflation above its expected level, firms are willing to increase real GDP by 2 percent. Draw the new short-run Phillips Curve.
Exchange and markets, Demand supply and market equilibrium
Consider a competitive market for which the quantities demanded and supplied (millions per year) at various prices are given as follows:
Competition seems to be so fierce among the giant retailers, after discounting and lower profit margins, how is profitability possible.
Article: Why you should worry about big oil. The oil industry is in the business of extracting and selling oil. It is the goal of the oil companies to do this as efficiently as possible.
Assume the government decides to pass a law that requires all businesses to delay all future layoffs, giving at least 3 months notice to any workers they plan to lay off.
You're the absolute czar and head of union of 1,000 plumbers in Austin, Texas. You've the absolute power to set the wage at which the plumbers will work. You wished to achieve full employment at highest possible wage; (b) you wished to maximize the..
Find out average fixed costs when the firm produces 50 widgets per day. Find out average total and variable costs for producing 49 widgets.
How does the free rider problem explain why telephone companies are usually successful in getting permission to raise their rates?
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