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You mentioned
"Prices of orange juices in the United States are rising despite the fact that poor demand since the production from Florida has been halted and so the supply of orange juices have decreased. Since the supply is affected by factors other than the price, the supply curve of oranges shifts to the left, raising the price."
What you're saying here is that demand is low because supply is low, and supply is low because orange production in Florida has halted.
You then state "the supply is affected by factors other than the price, the supply curve of oranges shifts to the left, raising the price." If the price goes up, what happens to demand in accordance with the law of demand?
Please respond in 100 words or more.
Can you relate the Classical and/or Keynesian macroeconomic models to assumptions about economic behaviors and to economics policies being implemented in the U.S. economy today? Discuss this with your group members.
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Starting from equilibrium national income of $250 billion, suppose government purchases decreased by $25 billion. Describe the effects on the AE curve and on equilibrium national income.
suppose that at time t-1 inflation is zero and there were no shocks in the economy. at time t there is a positive
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the owner-manager of good guys enterprises obtains utility from income(profit)and from having the firm behave in a socially conscious manner, such as making charitable contributions or civic expenditures. can you set up the problem and derive the ..
The standard economic model predicts that Laura will offer Sarah ___________ slice(s) and Sarah ___________ accept the offer.
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It is often suggested that the Bank of Canada try to reduce the inflation rate to zero. If we assume that velocity is constant, does this zero-inflation goal require that the rate of money growth equal zero.
We know what GDP measures. List and discuss the benefits of using the expenditure approach to measuring GDP. What does it measure well, and what things are not measured by GDP but are still important in our lives?
Review the initial scenario and the Strategic Business Plan presented in Module 1 to make sure that the requirements of the Board and the Part II Strategic Plan are met.
Index funds were also first offered during the 1980s. These funds allowed investors to become cheaply diversified from idiosyncratic risks faced by individual companies while still allowing them to capture the returns from the broad stock market.
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