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While referring to the "EYE on YOUR LIFE" section on page 389 of the textbook, discuss the change in the U.S. unemployment rate and inflation rate over the past year based on the Phillips curve concepts. Did they change in the same direction or in opposite directions? Explain if the change was a movement along a short-run Phillips curve or a shifting short-run Phillips curve. Can you think of reasons why the short-run Phillips curve might have shifted? Finally, based on these economic concepts as well as your own point-of-view, discuss and explain what is worse for our U.S. economy, too much inflation or too much unemployment?
Find out the optimal weekly output and price of this firm. Find out the weekly profit from the production and sale of this product.
A certain country has a very centralized collective bargaining, under which wage bargains are applied nationally. This country is thinking about adopting a bargaining structure that is more decentralized so that wage bargains will be made.
Money Market Prices The rate on a particular money market instrument, quoted on a discount basis, is 5 percent. The instrument has a face value of $100,000 and will mature in 40 days. What is its price?Money Market Prices The rate on a particular mon..
You are planning to build a new home with approximately 2000-2500 gross square feet of living space on one floor. In addition, you are planning an attached two-car garage (with storage space) of approximately 450 gross square feet.
The Burrito Barn is considering a price reduction on the Firegut Burrito, which currently sells for $5.00. Jim, the owner of Burrito Barn, knows that the price elasticity of the Firegut is roughly equal to -2.3 over the range of prices being consi..
Explain the difference among a price floor also a price ceiling. Provide a situation in which a price ceiling may be used.
How do you think the check tax affected the currency-deposit ratio and use the model of the money supply under fractional reserve banking to discuss how this tax affected the money supply.
For the total cost function given below finc AC,AVC,AFC and MC and the level of quantitiy where AC attains minimum.
Define the four Market Models that we discussed in this course. Give an example of each. In your opinion is onebetter than the other and why?
Describe why some workers are more likely than others to be laid off or have a harder time finding another satisfactory job.
Which characteristic of the production possibilities reflects the law of increasing cost: its shape or its length ?
In relation to ITUNES music store, besides variable pricing, what are some other potential pricing policies that could increase revenue What are the risks and potential costs of implementing more sophisticated pricing schemes for the downloaded mu..
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