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In recent years, both the United States and Greece have experienced increases in government debt and a significant economic downturn. In what ways were the two situations similar? In what ways were they different? Why did the two nations have different policy options at their disposal?
Joe and Jim purchase vegetables at a grocery store, but Jim also grows vegetables in his back yard. Only Joe’s grocery store purchases are included in GDP. Only Joe’s and Jim’s grocery store purchases are included in GDP.
Xon, a small oil equipment company, purchased a new petroleum drilling rig for $1,800,000. Xon will depreciate it using MACRS depreciation. The drilling rig has been leased to a firm, which will pay Xon $550,000 per year for 8 years.
Explain what will the total decrease in aggregate demand be as a result of the initial $12 billion decrease.
Two firms, Wickedly Efficient Widgets (WEW) and Wildly Nepotistic Widgets (WNW), produce widgets with the same production function y =K^(1/2) L^(1/2), where K is the input of capital and L is the input of labor
Explain how the long run differs from the short run in pure competition. Explain how the entry and exit of firms affects resource flows and long-run profits and losses.
To extract the seller’s surplus, a buyer should design a bulk order offering the seller ________ up to the desired production.
What are the three actions that the federal government can take to fight recession using fiscal policy?
A department store has offered you a credit card that charges interest at 1.05% per month, compounded monthly. What is the nominal annual interest rate (APR) for this credit card? What is the effective annual interest rate?
Indicate whether each of the following statements is possibly true or certainly false. The cost minimizing bundle for y = 50 is l=10 and k=40 if labor and capital cost the same, and is l=12 and k=37 when labor costs $20 and capital costs $15. Calcul..
q. two equal-sized newspapers have overlap circulation of 10 10of the subscribers subscribe to both newspapers.
A local car dealer is advertising a 24 month lease of a sport utility vehicle for 520 payable at the beginning of each month. the lease requires a 2500 down payment plus a 500 refundable security deposit that is refunded at the end of the 24 month le..
The dividing line between the 1 percent and the 99 percent is an annual income of ______. (LO11)
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