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Suppose the economy is in long-run equilibrium, with real GDP at $16 trillion and the unemployment rate at 5%. Now assume that the central bank unexpectedly decreases the money supply by 6%.
Suppose the economy is in long-run equilibrium, with real GDP at $16 trillion and the unemployment rate at 5%. Now assume that the central bank increases the money supply by 6%.
Explain how does the democratic political system lead politicians to emphasize points outside the production possibility curve.
What are the most important differences between the Kent and Kendall visions of intelligence? Why are these differences so important and worth discussing?
A new type of robot is invented, resulting in increased productivity across all industries and the U.S. Federal Reserve increases its money supply. What happens to the U.S. economy and the Canadian economy?
The ten firms have banded together to form a cartel, and the cartel sets the monopoly price. The cartel agreement limits each firm to an output of one-tenth of the total amount demanded at the cartel price.
What is your marginal revenue and marginal cost functions? To maximize profits, how much should you produce at plant 1? At plant 2? What is the price that maximizes profits?
In a two input – one output production model, what are the profit-maximizing conditions, in a general equation form? What does each side of the equation represent?
The relation among the number of technicians recruited per hour and the number of radiographs produced per hour is shown in the following table.
Long-run real interest rates are expected to increase. An accountant and an MBA student (who just finished his course of Managerial economics) were interviewed regarding the effect on the firm they both work at.
The rule established by the Hadley case is "when damages are awarded, compensation can only be awarded for injuries that the defendant could reasonably have forseen as a probable result of the usual course of events following a breach.
Lexus was the car brand with the highest consumer satisfaction rating, while Ford only made it to the 24th spot in the consumer happiness ranking. Nonetheless, Ford is selling many more vehicles than Lexus.
Why is the short run Aggregate supply curve have a positive slope and the long run supply curve a vertical one?
Mention four key points from the reading assignments that were emphasized in the simulation. Find out how price elasticity of demand affects the decision making of the consumer and of the organization.
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