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Suppose the price of housing increases to 3, but the price of food stays at 10.Rewrite Jane's budget constraint and draw it on a graph.Now suppose the price of housing decreases to 1.Rewrite her budget constraint again.When the price of housing increases does her budget constraint become steeper or flatter?When the price of housing decreases does her budget constraint become steeper or flatter?What happens when the price of food increases or decreases, but the price of housing stays at 2?
Describe unemployment and the unemployment rate. Might we be able to say "Job Stats: Too Good to be True?"
A firm has Total Costs (TC) of $12,000 over the next three months (TOTAL for the 3 months - not per month), of which $8,000 are fixed costs (TFC) for rent on its lease that cannot be broken. If it stays in business over those months, then the firm..
Economists insist on reviewing what happens as each assumption is relaxed one at a time. However, it is clear that in real world all four are relaxed simultaneously. Why does economic analysis insist on such an unrealistic analysis? The simple ..
What is a typical indifference curve for the case in which the marginal utilities of both goods are positive and the marginal rate of substitution of hamburgers for Cokes is diminishing. Explain the relationship between the indifference curve
Illustrate what would be various variations and perspectives from current economic downturns
ssume that a hypothetical economy with an MPC of 0.75is experiencing a severe recession. By how much would government spending have to rise to shift the aggregate demand curve rightward by $50 billion How large a tax cut would be needed to achieve th..
Illustrate what should the government's role be with respect to regulating accounting firms in the wake of mismanagement and accounting irregularities.
Assume that the demand for autoworkers declines significantly due to a decrease in demand for new automobiles. Explain what will happen to unemployment using both classical and Keynesian reasoning.
The nation is divided into __12______ Federal Reserve districts, each having a Federal Reserve Bank.
Explain how sensitive do you think your organization is to economic expansions upswings and contractions.
Discuss and explain the features of the Danish economy and why the Danes overwhelmingly support globalization and job outsourcing.
Using a long-run Phillips curve, what is the effect on the unemployment rate if the inflation rate rises and people expect the rise.
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