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What Marx called "underconsumption" is very similar to Keyne's concept of
a. inadequate aggregate demand
b. inadequate aggregate supply
c. lack of productivity
d. demand-pull inflation
e. both b and d are correct
Economic relationships between Spain and Portugal, and Europe (England, France, Holland): Structures of dependence. Differences between Spain and England and how these difference extended to and/or influenced the development of the Spanish colonies.
Suppose the government increases purchases in an economy with a recessionary gap. How would this policy affect bond prices, interest rates, investment, net exports, real GDP, and the price level? Show your results graphically.
Consider the decision of a household to have additional children. As a result of the substitution effect(s) of a wage increase, economic theory predicts that: In the household production model, the income effect associated with a wage decrease will:
The Bureau of Labor Statistics generally uses 90% confidence levels in its reports. One report gives a 90% confidence interval for the mean hourly earnings of American workers in2000 as $15.49 to $16.11. If the null hypothesis states that the mean ho..
In 2010, 40% of all U.S. corn production was used for producing ethanol, while 60% was used for consumption in or as food products. In 2011, a prolonged drought reduced the overall production of corn by 30%, from 10 million bushels to 7 million bushe..
A few questions in this problem set are based on the comments made by James Love to Congress regarding antitrust policy and the Petroleum industry. These are found at the end of the module on Antitrust Policy. What is it about the petroleum industry ..
Suppose the government were to subsidize the wages of all women in the population by paying their employers 50 cents for every hour they worked. What would be the effect on the wage rate women receive? What would be the effect on the net wage employe..
Crepe Creations is considering franchising its unique brand of crepes to stall-holders on Hermoza Beach, which is five miles long. CC estimates that on an average day there are 1,000 sunbathers evenly spread along the beach and that each sunbather wi..
Assume that you have a company and need to evaluate two alternatives, an automatic machine (AM) and a manual machine (MM). Capital investment for these AM and MM are $23,000 and $8,000, respectively. If we assume that MARR is 10% yearly for AM and MM..
Discuss how your expected and disposable future income, after receiving your college degree, may change your saving and investment decisions and transactions in the loan able funds market
Which of the following is a rate that should theoretically serve as a floor for the Fed funds rate? If a security dealer "repos securities," they are a. An increase in the supply of reserves in the banking system leads to an increase in the Fed fund..
If it is easy for a firm to get into or exit from a market, then a firm in that market will be able to earn positive economic profits. When economic profit is positive,
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