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Over the last 10 years, from 2005 through 2015, the European Union economy grew by 12.1%. What is the average annual percentage growth?
If inflation averages 4 percent per year and your return on an investment, based on then-current dollars (market rate) is 10.5 percent, what is your real return on investment?
Consider the following: Clark was considered to have “thought out the concept of marginal utility and its influence on exchange value” without having read Jevons, even though Jevon’s had already published. Discuss how this affected his contributio..
The total payment of resource income in the economy is equal to the total value of the output. In the simple circular flow model, if planned I exceeds planned S, then. The operation of the total economy can best be demonstrated by a. The level of tot..
Suppose you are given the following Total Product Function: Q=100 K^3/2 L^4/2 M^4/7, where Q is total output or units produces; K, capital; L, labor; and M, materials. That is this is an input factor production function. Find and interpret the output..
What will happen to the rate of inflation? How would the central bank react to the change in velocity if it pursued an NGDP target instead of a money stock target?
Parts two and three of AMERICAN PASTORAL represent Nathan's version of Swede's life, which you are to evaluate. To what degree is this version "true," in so far as it accurately includes the information Nathan learns about Swede in Part one of the bo..
Bert has an initial endowment of 10 units of food and 10 units of clothing. Ernie’s initial endowment consists of 10 units of food and 20 units of clothing. Represent these initial endowments in an Edge worth Box. Describe the set of allocations that..
Which of the following statements concerning the long-run average cost curve of economic theory is (are) not true?
Suppose a woman marries her butler. After they are married, her husband continues to wait on her as before, and she continues to support him as before (but as a husband rather than as an employee). how does the marriage affect GDP? how should it a..
Suppose for every dollar change in household wealth, consumption expenditures change by $0.05. If real household wealth declines by $45 billion, potential GDP is $120 billion, and the multiplier effect for the first year after an expenditure shock is..
Texas Instruments are once announced a price for random-access memories that wouldn't be available until two years after the announcement. A few days later, Bowmar announced that it would produce this product and sell it a lower price than Texas Inst..
Use the IS-LM, AD-AS model to illustrate the short-run and long-run effects of an unexpected decrease in the money supply. [Assume that the economy moves immediately to the new intersection of the IS & LM curves.] Repeat part a assuming that the decr..
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