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Q1. What does monumental architecture imply about the cultural values and the socio-economic-political organization of the society that created it?
Q2. In 2008, the price of oil rose sharply on world markets. What impact would you expect there to be on the aggregate price level and on real GDP? Exemplify answer with aggregate supply and demand curves. What would you expect to be the effect on interest rates if the Fed held the money supply constant?
Estimate the relative importance of economies of scale and comparative advantage in causing the following:Much of the world's most expensive wine comes from France.
Clearly explain the factors to consider as your "fixed factor" and alternative short term and long-term decisions. Submit your analysis in a one to three page paper.
Illustrate the situation: Firm X develops a new product and gets a head start in its production. Other firms try to produce a similar product but discover they have higher average total costs than the existing firm.
Which of the policies is/are a monetary? - Which of the policies is/are fiscal? - What are the differences between monetary policies and fiscal policies?
q1. some restaurants offer all you can eat meals. how is this practice related to diminishing marginal utility? what
Which partner has the comparative advantage in cake baking? Explain. Plot their combined PPC, including the number of cakes and pies at each of the three corners.
Discuss at least two alternative measures of national welfare that have been put forward? What are the primary strengths and weaknesses of these alternatives and discuss at least two alternative measures of national welfare that have been put f..
Suppose that the government increases taxes by $150 billion. Suppose that the MPC is .80 and that there is no crowding out effect. Which is the effect of this change in Yd, in C and aggregate demand?
How to calculate the elasticity coefficient between each of the seven prices and indicate whether the character of demand is Elastic.
Find out his utility maximizing H and L. Assume he is not eligible for welfare. Now assume he is eligible for welfare. Does he take welfare or work.
This graph shows an aggregate demand curve and an aggregate supply curve for an economy with no exports or imports. Adjust the position of one or both curves to elucidate graphically the scenario described.
Describe graphically why someone guaranteed an annual salary might choose to work fewer hours than someone who could earn that same amount through hourly pay.
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