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How does government implementation of Keynesian fiscal policy seek to reduce fluctuations in the business cycle, and how does this view differ from economic thought prior to the Great Depression?
Suppose a wage increase from $19 to $21 an hour increases the number of job applicants from 50 to 64. What is the price elasticity of labor supply?
Suppose that the labor market is competitive and there are a total of 1,000 black workers and 1,000 white workers (who each supply their labor in elastically). Both black and white workers are equally productive, having constant individual dollar pro..
Fifteen families live in Willow Cannon. Although several water wells have been drilled, none has produced water. The residents take turns driving a water truck to a fill station in a nearby town.
Suppose that currency in circulation is $800 billion, the amount of checkable deposits is 1500 billion with the required reserve ratio on checkable deposits is 12% and banks hold an excess reserves of $50 billion. Calculate the money supply, the curr..
Public goods are difficult to provide in the private market because they have the characteristics of:
q1. external and internal equilibria are often contradictory goals and the policy-maker is forced to choose between one
Assume the hospital is a monopolist with a demand function given by p = 404−2x, where p is the price of hospital care and x is the quantity of hospital care. Assume that the hospital’s cost function is given by C = 300+4x+8x 2 , where C is total cost..
If labor costs rise you may consider substituting capital input for labor input. What factors do you need to consider when making this substitution?
The relationship between marginal revenue and elasticity is when demand is elastic marginal revenue is positive and when demand is inelastic marginal revenue is negative
To make your work easier to grade, please make Julie the row player, Kristin the column player also Larissa the page player.
Constant returns to scale occur when. Total fixed costs
Suppose the government increases both taxes and government purchases by $10,000. Assuming that the marginal propensity to consume is 0.75, calculate the change in private saving, government saving, and total saving. Then draw a graph of the loanable ..
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