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Suppose that the government places a ceiling on the price of a medical drug below the equilibrium price.
Explain why there is a shortage of the medical drug at the new ceiling price.
Suppose that a black market for the medical drug arises with the pharmaceutical firms secretly selling the drug at higher prices. Describe and draw the black market for the medical drug, including the ceiling price, the black market supply and demand, and the black market feasible price.
Output per worker yt = 4kt 1/3, the saving rate is 30 percent, and the depreciation rate is 13.3 percent. Calculate the steady-state values of capital per worker and consumption per worker.
Enlighten the budgetary challenges state governments would face if the economy were to go into a recession also the unemployment rate were to increase.
Based on your knowledge of aggregate demand and aggregate supply, suggest the reasons and causes for the downward tailspin of the economy. Provide support for your response.
q.lets say that you own a restaurant with 3 employees and you are trying to decide between two different production
Does that face help explain why such governments would rather subsidize an industry’s export sales than its sales in the domestic market?
a smaller multiplier means that change in government purchases of goods and services, government transfers, or taxes necessary to close an inflationary or recessionary gap is larger. How can you explain this apparent inconsistency.
It will increase aggregate demand in the U.S. if the decrease in Canadian unemployment is very large. From what angle do you look at this question? I know that AD = C + I + G + NX. But honestly I have no idea where to go from there.
If Professor P chooses x and s to maximize her utility subject to the constraint that Mr. A is willing to work.
Assume the longer the search goes, the lower price the consumer would pay for the good. Furthermore, assume there are diminishing returns to the search since it is harder to find even lower prices as the search continues; that is: p?(t) > 0. Without ..
Bobby is the only man standing next to exactly one handsome man. 4. Clinton is the only man not standing next to exactly one scarred man. Who is fair, handsome and unscarred?
Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.
Calculate Marginal Revenue from demand if the marginal propensity to save is 0.05, how large is the multiplier.
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