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WHAT FACTORS AFFECTED NATIONAL INCOME, UNEMPLOYMEY RATE AND INFLATION RATE WHAT FACTORS EFFECT EACH OF THESE ECONOMIC VARIABLES?
Ongoing United States struggles in Iraq and Afghanistan, political unrest in South America, and civil wars in Africa have driven crude oil values up for the last many years.
Why does an initial $400 billion annual decrease in consumption spending make income fall by more than $400 billion per year. Explain why an initial change in planned aggregate expenditure results in a much larger change in equlibrium income.
Suppose the price of widgets rises from $5 to $7 and consumption of widgets falls from 25 widgets a month to 15 widgets. Calculate your price elasticity of demand of widgets.
To what extent do you think normative economic analysis, as opposed to positive economic analysis, determines our country's economic public rule decisions made by the government?
Demand for DVD rentals at a video store is described by the equation: Q= 4,000-500P, where Q denotes the number of DVDs rented per week and P is the rental price in dollars.
Discuss industry concentration, demand and market conditions, and the pricing behavior of Kodak in the 1990s. Do you think the industry environment is significantly different today? Explain.
Identify the stocking rate that you would suggest to a risk averse farmer and explain why you would recommend this stocking rate.
What are issues in choice of functional form and what would be an alternate functional form that avoids these issues?
Both industrial unions and craft unions attempt to raise their members' wages, but each goes about it differently. Explain the diffeence in approaches and describe the impact these differences have on excess quantity of labor supplied.
Determine the equilibrium price and quantity and explain its meaning to your chosen company. Indicate how your chosen company's management should use this information to make sound strategic decisions.
If the government had the option to either make changes to the tax rates or vary government spending to combat a recession that is already in progress, which of these two fiscal policies do you think would have a greater time lag to see its effect..
USING A DEMAND AND SUPPLY DIAGRAM, ILLUSTRATE AND EXPLAIN THE NET WELFARE LOSS FROM IMPOSING SUCH A QUOTA. UNDER WHAT CIRCUMSTANCES WOULD THE NET WELFARE LOSS FROM AN IMPORT QUOTA EXCEED THE NET WELFARE LOSS FROM AN EQUIVALENT TARIFF
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