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Q1. a) Has the U.S. economy experienced inflation or deflation during recent recessions? Elucidate.
b) Can the inflation and unemployment trends during the Great Depression be elucidated by movement along a short-run Phillips curve?
c) Can the inflation and unemployment trends during 2008 be elucidated by a movement along a short-run Phillips curve?
Q2. Consider an AD overage of $200 billion, creating an inflationary/expansionary gap. Assume the MPC is .8
(a) Explain how could the government close this gap with tax policy (be specific about size and direction.)
(b) Explain how could the government close this gap with changes in expenditures (be specific about size and direction).
Illustrate what is the market elasticity of demand. What is your elasticity of demand in this Cournot oligopoly.
Discuss a situation in which both parties entering into a contract could benefit from slightly ambiguous language contained in the agreement.
What research the long-run effects of entry into monopolistically competitive industries on prices, output, and profits. Explanation must be substantive.
Small mistakes are the stepping stones to large failures. How might this saying apply to the simple model of the firm and marginal analysis? Do you agree? In your responses
If columns (1) and (3) of the demand data shown above are this firm's demand schedule, Illustrate what and how much will be the profit-maximizing level of output for the firm.
An equal number of consumers who have a willingness to pay of $119 are allowed to buy the good at a price of $99. How will consumer surplus be affected.
Elucidate use blue points (circle symbol) to plot the federal debt as a percentage of nominal GDP for each of the six years.
In a typical day the store sells some of each type of cola, which suggests that Major League Baseball has adopted FOA because it fears that regular binding arbitration is addictive.
Suppose sellers of liquor are required to send $1.00 to the government for every bottle of liquor they sell. Further, suppose this tax causes the price paid by buyers of liquor to rise by $0.60 per bottle. Elucidate which of the following statemen..
what will happen to the hedonic wage function after the public relations campaign? what will happen to where each individual miner locates on the hedonic wage function?
What is the biggest disadvantage of using shells as money.
If deposit insurance were abolished, elucidate how would these change incentive structure facing deposit theory institutions.
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