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Research Classical and Keynesian economic ideas. Discuss the following:
How do Classical and Keynesian economists differ in their view of the aggregate supply curve?
How does this influence what Classical and Keynesian economists believe about fiscal policy?
Do you think the current President is taking Classical approach in his fiscal policies? Explain.
Define Indifference Curve and what are the main properties of Indifference Curve? By using Indifference Curve analysis explain how the consumer attains maximum level of satisfaction?
Your sales are $63,000.00 and your stock is reduced by $27,000.00 worth of markdowns. Your receipts are $75,000.00. What is your ending inventory?
The price level starts at 1.0 and rises by the end of the year to 1.15. What has happened to the value of the dollar over that same period of time? What are the consequences of that price level change? Will an increase or decrease in the money supply..
List out the distinct characteristics of a perfectly competitive labor market and compare them to the characteristics of monopsony.
Is there an option that is COMPLETELY DOMINATED? Identify. Compute the ACER for each treatment. Draw the Cost Effectiveness Frontier. Are there dominated strategies after ICER analysis? Identify them if they exist.
What would be price and profit levels would prevail based on the assumption that a new entry into the local market results in competitive market pricing.
In their last half-century there have been three additional rounds of GATT/WTO negotiations. Discuss the achievements and failures of each of these rounds, and summarize.
In principle, the government could impose separate minimum wages on distinct occupations. Suppose the government imposed a minimum wage of 20 percent over their respective market wages for ditch-diggers and university professors.
An individual likes owning cars is better. In order to own a car, an individual must have a 1:4 ratio of frames to tires.
Illustrate what is expected value of sample information. Explain how much might physicians be willing to pay for a market study.
Two goods are substitutes if an increase in the price of one good leads to an increase in demand for the other. The market system works by getting each person, motivated by his or her own self-interest, to produce products for other people. Markets e..
A petroleum engineer estimates that the present production of 400,000 barrels of oil during this year from a group of 10 wells will decrease at the rate of 15% per year for years 2 through 10. Oil is estimated to be worth $25 per barrel. If the inter..
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