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Starting from short-run equilibrium, the following occurs: personal income taxes rise and foreign real national income rises. What is the effect on the price level, Real GDP, and the unemployment rate in the short run?
On average college graduates earn significantly more income than those with less education and the disparity tends to widen into middle age. marginal external cost equals marginal private cost minus marginal social cost.
Use technology and information resources to research economic problems and issues and write clearly and concisely about economic problems and issues using proper writing mechanics.
The government dislikes smoking, and likes tax revenue. If they wanted to increase the after-tax price to $10 per pack, what size of excise tax must be placed on sellers? How much revenue will it raise? What will be the Deadweight Loss?
Derive, and show on a table, Sony's total and marginal revenue for all possible output levels. From this, draw Sony's demand, marginal revenue and marginal cost curves
Explain this relationship using at least two examples that incorporates all three concepts and explain how Demand, Elasticity, and Total Revenue are all related to each other
The 5-recent or historical government actions dealing with the macroeconomic policy. For each scenario estimate if it represents fiscal policy or monetary policy, and describe your reasoning.
MICROECONOMICS
During 1993 when the economy was growing very slowly, President Clinton recommended a series of spending cuts and tax increases designed to reduce the deficit. These were passed by Congress in the Omnibus Budget Reconciliation Act of 1993.
Describe the short-run and long-run effects of an increase in the money supply on the equilibrium level of production and the price level.
Why do you think it is important for managers to understand the mechanics of supply and demand both in the short run and in the long run?
You're the manager of the firm that sells a commodity in market that resembles perfect competition, and your cost function is C(Q)=Q+2Q^2. Compute the expected market price.
Suppose Virginia withdrew $10,000 from her bank. If the reserve ratio is 2 percent theen this transaction willl lead to decreasing ____ in checking account balance.
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