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1. Assume a technological advance leads to lower production costs. Show the effect of such an event on national income, unemployment, inflation, and interest rates with the help of an AD-AS diagram. Assume completely flexible wages. How would your analysis differ (if at all) if wages were rigid?
2. In a classical world with technological change, if the nominal money supply is increased over time, how will the level of output and prices behave in the long run?
3. Comment on the following statement as true, false or uncertain and justify your answer with a diagram and a written explanation. "If nominal wages were more flexible, expansionary policies would be more effective in reducing the rate of unemployment."
4. "The unemployment rate is zero at the full-employment level of output." Comment on this statement. In your answer, discuss how the labor sector adjusts to an equilibrium after a price change.
The Saudi government's long-awaited decision of imposing fees on undeveloped plots within cities, known as ‘white land - Discuss your thought in detail, and make it rich with information and arguments.
Elucidate the tradeoff among current consumption and savings and how this impacts economic growth.
in a simple economy people consume only 2 goods food and clothing. the market basket of goods used to compute the cpi
Explain all your answers below clearly, including brief definitions of each term.
If thevalue of multiplier is 2.49 then find out: MPC MPS What is the relationship between the value of multiplier and MPC?
Who will capture the economic benefits that the internet creates? will all the value end up going to customers, or will companies be able to reap a share of it?
You all hear on TV every day or so that the United States customers has been holding up and kept our economy going.
In a few weeks Professor Smith will be taking his daughter Attilla to the State Fair. Calculate the Marginal Rate of Substitution (MRS).
consider an air basin with only two consumer huck and matilda. suppose hucks demand for air quality is given by qh1-p
QUESTION The Keynesian AD curve differs from the classical AD curve in that:
Illustrate is the point cross elasticity among steel and aluminum. Are steel and aluminum substitutes or complements
The government decides to tax cookbooks because they feel that they encourage overeating and can lead to health issues, such as obesity and heart disease. Answer the following: What type of tax is this. What happens to the supply of cookbooks. What..
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