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What are menu costs? How has the widespread use of computers and the Internet affected menu costs? If menu costs were eliminated, would the short-run aggregate supply curve be a vertical line? Briefly explain.
Although our development of the Keynesian cross in this chapter assumes that taxes are a fixed amount, in many countries taxes depend on income.In the Keynesian cross, how does this tax system alter the government-purchase multiplier.
in a competitive market the market demand is qd 400 - 5p and the market supply is qs 10p - 80. a price ceiling of 32
Taxes must be collected to pay for the purchases of surplus cheese by the usda. as a result, total surplus (producers plus consumers) is reduced by the amount the usda spent on buying surplus cheese. Using your answers for parts d, e, and f, wh..
dr. fine and dr. feelgood are the only two medical doctors offering immediate walk-in medical services in the town of
A friend of yours expresses the opinion that the only resource that is important in the macroeconomy is money. He says, "The more money an economy has, the richer it is." How would you respond?
Discuss how the rights of those in the public sector differ from those in the private sector, and how it affects overall public sector productivity.
What is the central limit theorem?.
Prove the fifth fact from the subsection on syndicate theory. The key is to find out the right values for the constants ki . The ki are defined so that the first-order conditions all hold and the adding up condition holds.
(a) In a probit /logit model, the marginal effects of regressor j is defined as ΔP(Y=1|X)/ΔX_j . The marginal effect is dependent on X, and therefore, it is difficult to place a useful interpretation on Beta hat alone. (b) As a simple diagnostic one ..
Describe the difference between "stock variables" and "flow variables" in macroeconomic models. Of the following variables: aggregate income, aggregate wealth, aggregate investment, the aggregate money supply, government budget deficit, and govern..
write a paper of no more than 700 words about the market for a health care good or service such as blood or organ
What are the market equilibrium price and quantity demanded for smoodie in the long run? Do firms make economic profit or incur a loss? Explain why. Also, what will be the number of firms producing smoodie in the long run?
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