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Monetarists says “Only money matters.” Keynesians answer, “Money matters, but other things like fiscal policy, matter too. “Explain and evaluate each position. Could you disagree with monetarists and still believe that monetary policy should be used to counter recessions?
Explain.
Suppose that low-skilled workers employed in clearing woodland can each clear one acre per month if each is equipped with a shovel, a machete, and a chainsaw. Clearing one acre brings in $1300 in revenue. What is the marginal revenue product of hirin..
where p is the input price, and a, b, α, β > 0. Find the profit-maximizing price and quantity of the input the monopsonist will choose, and compare the analysis to that of the profit-maximizing monopoly
Suppose that the citizens of Hungary can purchase all the oil they desire at the going international price. If the Hungarian government levies a tax on oil, who bears the burden? Illustrate your answer wit h a supply and demand diagram.
Explain gambling from a risk-return perspective and from a Christian worldview. What is wrong (from a Biblical viewpoint) with gambling if consumers want it? Is price-discrimination always wrong? Under what conditions might it be ethically allowable?
Many police officer positions require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material. Why don’t police departments increase their applicant pool by dropping this requirement?
Sarah is awake for 100 hours per week. Using one diagram, show Sarah's budget constraints if she earns $6 per hour, $8 per hour, and $10 per hour. Now draw indifference curves such that Sarah's labor supply curve is upward sloping when the wage is be..
Discuss the importance of laws and the requirements to amend them regularly. Cite examples from the perspective of Oman and explain with evidence the importance, advantages and disadvantages of the commercial agreements between Sultanate of Oman and..
Teresa likes to consume chocolate and yogurt. Her utility function is given by U(x, y) = x0.5y0.5where x and y are the quantities of chocolate and yogurt she consumes. Suppose that her income is $10 and the initial prices for both of the goods is $1...
Draw ppf how each of the following events effects the location of a country's production possibilities curve a. the quality of education increases b. number of unemployed workers increased c. new technologies improves the efficiency of extracting cop..
You are tasked with evaluating a project for reducing nutrient (nitrogen and phosphorus) loading into the Gulf of Mexico (GOM). These nutrients make their way into the GOM by way of the Mississippi River and primarily come from the runoff of chemical..
Assume that the short-run cost and demand data given in the table above confront a monopolistic competitor selling a given product and engaged in a given amount of product promotion. Refer to the above table and information. If the firm sells 3 units..
assume that your business is visible and an important member of the community. would the government encourage a
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