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Explain the relationship among household disposable income, consumption, and savings. What is Marginal Propensity to Consume (MPC) and what does an MPC of 0.9 tell us about consumption and saving? Use an example to explain MPC.
Explain the following statement: "Changes in disposable income lead to movements along the consumption function while changes in wealth lead to a shift of the consumption function." Use examples to illustrate your response.
What impact would you expect each of the following events to have on business cycles? Label each as a demand-side or supply-side shock.
What economic policy changes might you expect in response to each of these events?
Explain the following statement: Any deviation from planned output or planned expenditures (Consumption + Investment) will throw the economy into disequilibrium. To illustrate your explanation, provide an example of how actual output might deviate from planned output and how actual expenditures might deviate from planned expenditures. List any economic reactions might you expect in the examples you provide.
Should a country's income be distributed to its members based on their contributions to production of that total income or according to the member's requires?
Discuss the major barriers to entry into an industry. Explain how each barrier can foster either monopoly or oligopoly. Which barriers, if any, do you feel give rise to monopoly that is socially justifiable
Some economists believe that Fiscal Policy can affect swings in the business cycle. Looking back to the book, it discusses the Japanese government and their government cutting taxes.
In the wake of the energy crisis in California, many electricity generating facilities across the nation are reassessing their projections of future demand and capacity for electricity in their respective markets. As a manager at Florida Power & L..
Illustrate which national financial policy programs are best for addressing the problems in the U.S. economy
Suppose that work hours in New Zombie are 300 in year 1 and productivity is $14 per hour worked. What is New Zombie's real GDP? _____$ If work hours increase to 320 in year 2 and productivity rises to $16 per hour, what is New Zombie's rate of econ..
Utilize the equation to give as much information as possible about the demand for potatoes.
The government will tax good for many reasons, resulting in a fall in equilibrium quality while the prices increase. Could someone explain how price controls and taxes have influenced your purchasing choices.
Many home improvement retailers like Home Depot and lowes have low-price guarantee polices. Do these types of pricing strategies result in cutthroat competition and zero economic profits?
A tariff is simply a tax on imports. Use our model of the excise tax (with diagram) to describe why domestic firms request that tariffs be imposed.
Mention and explain the two types of inflation. Which sort of inflation would most likely be associated with the negative GDP?
Explain the difference between a short-run production function. Cite one example of this difference in a business situation Explain the relationship between a firm's short-run production function and its short-run cost function. Focus on the margin..
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