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Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related. How do active and passive views of these concepts differ?
George has been selling 5,000T-shirts per month for $8.50. When he increased the price to $9.50 he sold only 4,000T-shirts. What is the demand elasticity? If his marginal cost is $4 per shirt, what is his desired markup and what is his initial actual markup? Was raising the price profitable?
Just prior to the year 2000, the Fed was concerned that people would make larger than normal bank withdrawals out of fear of the Y2K computer bug. The Fed feared that this might disrupt the banking system. The Fed wanted to use a defensive action to prevent any such disruption. This would take the form of open market bond.
When would it make sense for a factory that is losing money to remain in operation
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Explain the role culture may play in influencing entrepreneurship both at the individual and social level. Define culture in your response.
Determine the cost to the government of buying firms unsold units
How can two countries both be better off as a result of trade? How can tariffs protect U.S. jobs? Do tariffs lead to a net increase in jobs?
Calculate gross national product and net national product
Explain what occurs when a new technology makes another one obsolete in terms of economic profit.
Describe a skimming price and a penetration price, and advise them whether they should charge a skimming price or a penetration price, with supportive reasoning for and against each pricing alternative.
Why do celebrity icons receive such widespread attention and adulation
This document contains various important questions and their appropriate answers in the subject field of Economics.
Government encourage a decision to expand? How would it affect the reputation of the business?
Describe the Schumpeterian notion of "creative destruction"
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