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A rightward shift of the long-run aggregate supply curve is caused by
a. an increase in the GDP deflator.
b. an increase in the minimum wage.
c. improvements in technology and resource endowments.
d. an increase in the average duration of unemployment.
Suppose there are two goods being produced in the economy: robots and wheat. Robots are a capital intensive good and wheat is a labor intensive good. Suppose that there are two countries: France and Brazil. France is capital abundant and Brazil is la..
Create a project supply and materials budget based on the information in the case. Your budget must include a one page explanation on the importance of a materials supply budget and the impact of the budget on the supply organization.
Which of the following is the best example of a short-run adjustment? Smith University completed negotiations to acquire a large piece of land to build its new library. Your local Wal-Mart hires two more associates. A local bakery purchases another c..
What government policies are available to reduce domestic demand in the medium run. Identify which components of domestic demand each of these policies affect.
Sketch graph a standard short-run production function, and identify on it the points where the average product peaks, the marginal product peaks, and the marginal product reaches zero, and the average and marginal product intersect.
A profit-maximizing firm will use less of a factor of production when:
1.why is it advisable to evaluate the companys financial statements? what key information would you seek to understand
Suppose that price of capital is $1 and price of labor is $2 and total outlay is $16. Write the equation for the iso-cost line and plot it on the same graph with the iso-quants.
Consider a large country importing good X in the international market. The country is large enough to influence the international price for good X. Let the initial international price of good X be $100, where the country imports 100 units and produce..
Robert Lucas said that "...business cycles are all alike', yet from Chapter 3, we see that the times series of deviations from trend in real GDP is "choppy", and there is no regularity in either the amplitude or frequency of fluctuations in real GDP ..
What are the phases of business cycle? What happens during prosperity? What happens during contraction phase? What is the difference between recession and depression?
What is required before the state can restrict/regulate your use of real property? Why does the law require special steps be taken for the formation of joint tenancy?
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