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What are the outstanding faults of the economic system according to Keynes? What is the social philosophy implied by the General Theory? What gave the General Theory a revolutionary quality, and how was it interpreted or misinterpreted, according to Minsky? How does Minsky's approach differ from orthodox Keynesianism?
Most doctors would probably agree that a Mediterranean diet, rich in vegetables, fruits, and grains, is healthier than a high-saturated fat diet. Indeed, previous research has found that the diet can lower risk of heart disease. What percentage of pe..
Suppose that full-employment (and full-capacity) output in an economy is $200. If Ca is $150, lg is $50, Xn is -$10, and G is $30, what will be the macroeconomic result?
As we have briefly discussed earlier in the course, fiscal policy and monetary policy are the two most commonly used tools for influencing a nation's economy. An example of fiscal policy would be increasing spending on the military or the implementat..
Suppose the money supply is $1 trillion. The FOMC decides to use open market operations to reduce the money supply by $100 billion. If the required reserve ratio is .05, what does the Fed need to do to accomplish the reduction? Illustrate your result..
Draw a supply and demand curve, label X & Y axis and show equilibrium. Show a shift in demand and supply, and why it has occurred (non-price determinants). Describe all changes. Show in two or more graphs and use 2 examples for each - supply and dema..
compute the shares of lemon grass also troll labor in Hogwarts' income.
Composite index of leading economic indicators - What is the value (last report) is the trend up or down? Why is it a “Leading” index? What indexes comprise the composite index?
A drug patent gives a pharmaceutical firm a monopoly. Draw and label the supply and demand curves for a drug. Then demonstrate how having a monopoly changes that equilibrium. How does this impact consumer surplus? What actions can the government take..
Suppose the multiplier is 3, the marginal tax rate is 20%, and the marginal propensity to consume out of disposable income is 0.9. If government spending increases by $10 billion, then would national saving increase or decrease, and by how much?
A late-night news report says the president of a local bank is about to be arrested for embezzling money from the bank at which he works. This causes worried depositors to line up in front of the bank the next morning wanting to withdraw all of their..
Suppose that several months of data showed the CPI increasing at a 4 % annual rate due largely to increases in the price of energy and food related commodities following several years when the CPI only increased by 2.2 % per year. What would you expe..
Among the types of costs faced by a firm (short-run costs, fixed and variable, as well as long-run costs), how cutting cost can be accomplished? What are some specific examples of how firms have used technology to lower costs?
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