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When the economy is on the short-run aggregate supply curve and to the left of the long-run aggregate supply curve, actual aggregate output will eventually equal potential output as: nominal wages fall and the short-run aggregate supply curve shifts to the right. the aggregate price level falls and the long-run aggregate supply curve shifts to the left. nominal wages fall and the long-run aggregate supply curve shifts to the left. the aggregate price level falls and the aggregate demand curve shifts to the right.
Manufacturer A is starting to make Gismos at an initial production cost of $95 for the first unit and has been lowering the cost with a learning rate of 79 percent. Manufacturer B also started this year with an initial production cost of $288/unit wi..
If I produce 20,001 copies my total cost will rise to $750.02, therefore my marginal cost of producing copies must be increasing.” Draw a graph to illustrate your answer.
Does convergence property imply that a measure of dispersion of income per person across the economies will narrow over time? Absolute convergence held for US sates from 1880 to 2000. A measure of the dispersion of per capita income across the states..
You are told that the present worth of an increasing geometric gradient is $88,146. If the cash flow in year 1 is $25,000 and the gradient increase is 18% per year, what is the value of n? The interest rate is 10%per year.
What is the efficient number of crabbers - suppose the government wished to promote efficiency in crabbing by requiring crabbers to purchase licenses. How much should they charge (per day) for a license?
Choose a product from the list. Name and describe the product category below. What types of products are included? Breakfast Cereal,,Dairy products, Footwear, Fruits and Vegetables (canned, pickled and dried) Household cleaning products, Household co..
As a result of a decrease in the value of the dollar in relation to other currencies, the level of American imports and exports change. Consequently, there is a(n): increase in short-run aggregate supply. Decrease in the quantity of aggregate output ..
q.i would like to figure out the relevant cost in some cost flight operation salaries of flight crew fuel maintenance
Use the mid-point formula to calculate the price elasticity of supply (arc elasticity) for a given product under two scenarios:
Suppose that John takes this semester only two courses, math and economics. He allocates his studying time between the two. Let M and E stand for the number grade in math and in economics, respectively. Provide a brief economic interpretation of the ..
Given the long-term budgetary deficits facing the federal government, some members of Congress have advocated repealing the prescription drug benefit that it created for Medicare beneficiaries in 2003 (i.e. Medicare Part D). If that should happen, ho..
A bookkeeper makes a significant posting error, which she later discovers and corrects. In fear of losing her job, she does not report the mistake to her supervisor. How should the employee have handled this situation and what should the supervisor d..
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