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The winners of the Nobel Prize in economic science were recently announced-who were they? For what contribution to our understanding of economics were they recognized? Would you say a free society would be enhanced by adopting their findings? Explain Be sure to attach copies of the sources you relied upon."
The average weekly earnings of bus drivers in a city are $950 with a standard deviation of $45. Assume that we select a random sample of 81 bus drivers.
The supply curve for labor is S L = 100W, where W is the market wage. The marginal revenue product curve for the firm is D L = -50W + 450.
Consumption accounts for about 60% of GDP, while investments accounts for about 20% for GDP. But many economists think that, to understand economic recession, it is more significant to look at investment than consumption. Why?
Describe what effect an expansionary fiscal policy would've on the price level and real GDP starting from full employment equilibrium.
Write down the relationship between savings, capital formation, and consumption.
An increase in input prices for rice production; and an improvement in rice production technology. Use diagrams to analyze the effects of these changes on equilibrium price and quantity.
In the following list a number of well-known companies and the products that they sell. Which of the four types of markets (perfect competition, monopoly, monopolistic competition, and oligopoly)
Describe unemployment and the unemployment rate. Might we be able to say "Job Stats: Too Good to be True?"
Assume that Florida migrant workers are effectively unionized. What will be the impact of unionization on?
What do you regard as the main weaknesses of the Ricardian or Classical model as an explanation of the trade patterns? Why do you regard them as weaknesses?
Why might it be difficult for the Fed to formally adopt inflation targeting? Would inflation targeting be a good policy for the Fed in the present economic environment
Fill in the table indicating whether the new Each row and column heading describes a shock to a market initially in equilibrium. Fill in the table indicating whether the new equilibrium price and quantity will increase, decrease, or not change.
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