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Analyze why the prices of gasoline rose so high over the summer. Was it because OPEC cut back production and the number of people driving was more? Illustrate this using a graph showing a decrease in supply coupled with an increase in demand, resulting in large price increases.
Assuming no change in hours of work, if real output per hour of work increases by 10 percent, what will be the new levels of real GDP in the right column of A Does the new data reflect an increase in aggregate supply or does it indicate a decrease..
Using indifference curve analysis, explain and show graphically the effects of higher gasoline prices on:
Identify and discuse the IS-LM framework (determination ofincome and the interest rate) and equivalent AD-AS framework.(determination of price level and income) and how changes inequilibrium occur as a result of changes in fiscal
Mr. Black and Mr. Blue, each out for a Sunday drive, have a collision in which their cars are destroyed. Black and Blue each hire a lawyer to sue the other, paying the lawyers $5,000 each for services rendered. The judge throws the case out of court.
Determine what does a contractionary gap imply about the actual rate of unemployment relative to the natural rate?
What fiscal policies do you think caused the crisis and what were the effects of the fiscal policies implemented in reaction to the crisis?
Using the tools of demand and supply analysis, illustrate the impact of rent control on the market for housing in a free market economy. Would a voucher system of housing subsidy for the poor or low income households work better or worse than rent co..
The government provides national dental insurance benefits for all U.S. citizens that cover 100% of the cost of all dental services. There are two effects of this policy. First, there will be an increase in the number of consumers of dental servic..
Hinduism, Confucianism and Buddhism are three of the world’s great belief systems. Compare and contrast their impact on the societies that embraced them.
Determine the profit maximizing level of output and price. Is this long run equilibrium? According to the theory of monopolistic competition, do you expect entry or exit taking place in this industry?
Economic theory and history explains that less developed countries that open their economies to international trade and capital flows will grow faster and reduce poverty.
the region of acceptance will be wider than for large samples. the population is normally distributed. a larger computed value of t will be needed to reject the null hypothesis. the confidence interval will be wider than for large samples.
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