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Some events change aggregate demand from SAS0 to SAS1. Describe two events that could have created this change in aggregate supply. What is the equilibrium after aggregate supply changed? If potential GDP is $1 trillion, does the economy have an inflationary gap, a recessionary gap, or no output gap?
Suppose which the owners of the only gambling casino in Wisconsin spend large sums of money lobbying state government officials to protect their monopoly of gambling.
Write down the profit maximization problem of the representative firm. What is the new short run equilibrium price and production.
Suppose that the market for engagement rings is in equilibrium. Then political unrest in South Africa shuts down the diamond mines there. South Africa is the world's primary supplier of diamonds. What will happen.
Explain what happen if all workers and jobs were identical, there would be just one wage rate, assuming perfect information and costless mobility.
Illustrate what is Gillette's advertising elasticity. Is Gillette's Demand more or less responsive to advertising than other firms in its peer group. Elucidate also Elucidate how all calculations.
Explain at the current price, eight units are demanded each period. If the objective is to increase total revenue, should the price be increased or decreased.
Illustrate what is your conclusion about the claim made by the diet program
The united states exports a substantial amount of scrap iron and steel to Japan and other countries. Explain Why do some US users of scrap iron and steel support a prohibtion on these exports
A monopolist faces demand given through: P=100-4Q and has marginal costs given through: MC=10+2Q Create the demand, marginal revenue and marginal cost curves. Compute and demonstrate how much this firm will sell and what it will charge.
why the enrollment in colleges also universities increases at times of economic recession
Elucidate a personal daily struggle that is an example of the law of noncontradiction and the challenges posed to your beliefs and decisions.
propose to model his tastes in the following way: For any 2 bundles A and B of "grams of cocaine" and "dollars of other consumption.
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