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When GDP is high or increases does it indicate higher income?
If so when GDP per capita increases why do saving ratios decrease when savings is income induced ie a rise in income increases savings and a decrease in income decreases savings?
You are a manager of Kleenex and you compete directly with Puffs selling facial tissues in America. Consumers find the two products to be indistinguishable. The inverse market demand for facial tissues is P = 3-Q (in dollars) in America.
Explain the changes in the supply and demand creating a supply and demand curve based on the above information. In this graph, be sure to demonstrate how these changes affected the price and quantity levels of supply and demand. Based on this anal..
A father goes to the pharmacy late at night for cold medicine for his sick child. all medicine have almost the exact ingredients brand names sell for more. Explain, in economic terms this situation to the father.
True/False: For each of the following concepts, decide whether it's true or false, and briefly explain why (2-3 sentences). You can also use diagrams if they are helpful. Each correct answer is worth.
Describe why the general level of wages in high in US and other industrially advanced countries. Determine the single most important factor underlying the long run increase in average real wage rates in the US
What impact would a change that shifts an economy's production possibilies curve outward have on the long run aggregate supply curve How have imporvements in computer technology affected production possibilities and the long run aggregate supply c..
If the desired fiscal stimulus is $20 billion and the desired AD increase is $50 billion, we can conclude that the MPC is:
Illustrate what is the tolal accounting cost. Illustrate what is the total economic cost. Elucidate why these are different in this way.
What is a store of value? What types of assets act as a store of value?
This increases the need for education in the economy as a whole because automation took away these jobs. Because of the increased need for education, more jobs were created and the education setting like universities have created jobs.
Over the past two decades, according to the U.S. balance of payment, the current accounts and the capital account balance tend to move in same direction.
a. Describe a situation where prices have been held out of equilibrium due to government intervention in the market-the obvious ones discussed in the text are rent control and agricultural subsidies. You may use a specific example of one of these,..
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