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Continue to assume that C = 400 + 0.75 (Y - 100), I = 100, and NX = 100. But the government now increases spending from 100 to 150, how much is the new Y in the goods market equilibrium?
Illustrate the economy's adjustment to its long run equilibrium only, as the formerly dislocated (and now retrained) labour force is finding employment in new industries.
Illustrate and explain the interaction of households, businesses, government and global markets in the circular flow of economic activity.
The Portland Sea Dogs, AA affiliate of the Boston Red Sox major league baseball team, have enjoyed a surge in popularity.
consider a man with 16 years of education and 2 years of experience who is from a western state. Use the result and the method in key to estimate the expected change in the logarithm of average hourly earnings (AHE) associated with an additional y..
Suppose that, relative to Country B, depreciation, indirect business taxes, and personal income taxes in Country A are high, while welfare and Social Security payments to households in Country A are relatively low. Which country has the higher dis..
Find the optimal crude oil allocation in the preceding example if the profit associated with fiber were cut in half, that is, fell to $.375 per square foot.
Describe the Diamond-Water paradox and the solution. Explain why price is greater than marginal revenue for a single-price monopolist and how this differs from perfect competition.
Explain how does the Leontief paradox challenge the overall applicability of the factor-endowment model.
Explain how would the number of workers hired (variable input) change. This is a profit maximizing firm, also explain the profit maximization condition the firm uses.
Explain how a firm in a competitive market identifies the profit-maximizing level of production. When should the firm raise production, and when should the firm lower prodcution?
Maker an article or current event article which relates to government regulations or antitrust activities.
Government imposes excise taxes on goods which have inelastic demand, such a cigarettes.
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