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During China’s Cultural Revolution in the late 1960s andearly 1970s, highly educated people were forced to move to farms and work in the fields. Some were common laborersfor eight or more years. What does this policy say about specialization and the PPC?
In the late 1990s a growing number of economists argued that world policymakers were focusing too much on fighting inflation. The economists also argued that the technical level of potential output had risen. Show their argument using the AS/AD mo..
Please comprise in your response, the formulas for this problem among with a detailed explanation of how it is solved, and your rationale for reaching your conclusions.
Attorneys for Eastman Kodak argued in front of the U.S. Supreme Court to defend the company against charges levied by several independent firms that provide service for machine sold by Eastman Kodak.
Suppose OPEC breaks apart and oil prices fall substantially. Initially, which curve shifts in the aggregate supply/aggregate demand model? In what direction does it shift? What happens to the price level and real ouput (GDP).
“Scalping” refers to the practice of reselling tickets at a higher-than-original price, which happens often with athletic and artistic events. Is this “ripping off” why or why not?
Elucidate the trend over the past few years. What stage of the Business Cycle would the U.S. economy be in currently given the trends
a. What is the amount of excess reserrves b.This bank can safely expand its loans by what amount c.by expanding its loans by this amount in part (b), its checkable deposits would expand to what amount (if all loans were made to checking account cu..
Suppose a developed nation’s economy historically had an economic growth rate of 3% but over the last 10 years, that rate hovered around 2%. In the last two years, assume it appears to have fallen further
Which of the following changes to fiscal stimulus package of 2009 for $862 billion (under the bill called American Recovery and Reinvestment Act of 2009) would have a larger overall impact on AD Explain your answer in a paragraph or two with credi..
Explain why is strong home currency mitigate the growth of inflation rate locally
Assume you are looking at data for an economy that uses only two inputs, physical capital and labor. The table shows output for different combinations of labor.
Robin and Terry are Stranded on a deserted island and consume two products, coconuts and fish. In a day, Robin can catch 2 fishes or gather 8 coconuts, and Terry can catch 1 fish or gather 1 coconut.
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