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In a nation with no inflation, the central bank raises the money supply by 6%, and each dollar is spent 1% more than it was before. From this we know:
A: total spending is unchanged
B: nominal GDP is unchanged
C: real GDP increases by 7%
D: the nominal money supply increases by 7%
Iggy only consumes two goods: coffee and cigarettes. Three cigarettes can be traded for one cup of coffee in a free market, or one cup coffee can be traded for three cigarettes. Iggy initially has 12 cigarettes and 5 cups of coffees. Find an equatio..
Evaluate the following statement 'in all of the regressions, the coefficient on Female is negative, large, and statistically significant. This provides strong statistical evidence of gender discrimination in the US labor market.'
Describe the similarities and differences between staffing for a stand-alone behavioral healthcare facility and a behavioral healthcare unit that is a part of a larger healthcare system
In the five years ending 2011, Switzerland enjoyed a fiscal surplus that averaged 1.3% of GDP, a trade surplus that averaged 2.6% of GDP, and a government debt to GDP ratio that averaged 40%. Use the appropriate graphs for a small open economy to ill..
Suppose the logging industry forms a union that requires longer apprenticeships and charges high fees to its members. Discuss the reasons why loggers might place these stipulations on union members. What are the loggers hoping to achieve?
Wildfires destroyed a majority of orange farms, reducing orange production substantially. Explain the effect to the supply and demand curve. Also explain how equilibrium price and quantity would change.
One of the companies for which you provide accounting services offers office cleaning services and has 10 customers. Cleaning services are provided in the evenings, Sunday through Thursday, at a rate of $30 per day. Billing is done every Friday. Duri..
Provide a short example of how the law of diminishing marginal utility applies to a real-life situation. In your answer, explain why utility from consumption of these specific good or service increases quickly initially, peaks, and may eventually lea..
Why is the institution of private property in capitalism a source of economic growth? Give three reasons why economist advocate for "free trade"? Why do governments prefer tariffs while foreign producers prefer quotas?
Suppose that capital per hour of work grows by 3 percent and technology grows by 1 percent over a one year interval. What is the growth rate of real GDP per hour of work? Show the formula and all work. To understand what causes productivity growth, w..
Using the information on exhibit 2 calculate the consumer price index in the current year.
An economy is in long-run macroeconomic equilibrium with an unemployment rate of 5% when the government passes a law requiring the central bank to use monetary policy to lower the unemployment rate to 3% and keep it there. How could the central bank ..
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