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What are the two effects of every price change? Given two goods, "x" and "y", if the price of "x" increases (all else equal), what do each of the effects say will happen to the consumption of "x"? After the change, what can we say about the quantity of "y" consumed?
The Federal Reserve buys bonds in the open market, an open market purchase. What are the affects on monetary base, the money multiplier and money supply. The choices are increasing, decreasing, or unchanged.
During Dec. 2007 and Dec. 2008, measured RGDP in economy fell by 1 percent as the US economy sank into a recession. Over that same time period total employment in terms of hours worked declined by 3.7 percent
Determine the conditions of perfect competition. Name each and describe with an example how the real markets can violate one of more of these conditions.
Discuss how absolute advantage and comparative advantage differ? Kyle can read 20 pages of the economics in an hour. He can also read 50 pages of history in an hour. He spends 5 hours pre day studying. Draw Kyle's production possibilities fron..
Compute the cross-price elasticity of demand between goods X and Y at the given prices.
social problem where free marketplace are not allowed to function and describe how free market features could be introduced to help alleviate the problem.
Elucidate what would have been the economic effects of this. Describe the pros and cons.
Would you have been less likely or extra likely to borrow the money if they had known the true inflation rate? Who was hurt by the fact that the actual inflation was not equal to the expected inflation rate, the lender or the borrower?
Calculate the equilibrium real wage rate and the equilibrium quantity of labor. Suppose that the nominal wage rate equals 60. In the short-run, aggregate demand and aggregate supply are equal at a price level of 1.0. Compute the real wage rate.
Suppose that the car manufacturer allows the car dealer to return all unsold cars at the end of a recessionary year. What is the car dealer's profit in a growth year and in a recession? What is their expected profit?
Determine what activities should we look for in order to estimate if an entrenched management is taking actions that would harm us as shareholders?
Illustrate what is the price elasticity of supply for your chosen industry.
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