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Why study economics? This goes back to the very definition of the field. It can actually be summed up in ONE word. Once you’ve found the word, explain it, however. Use terms like resources and carefully define them.
Explain how do these tools influence the money supply, and in turn, affect macroeconomic factors.
You are told that the ratio of the actual output per worker of country j to the actual output per worker of country i is 0.3. You suspect that differences in savings rates (s) between the two countries may also explain the difference in the countr..
Before 2005, economists estimated the cross-price elasticity between fruits and vegetables to be +1.5. Since the introduction in 2005 of the "New Food Pyramid", the revised estimate of the cross-price elasticity between fruits and vegetables is no..
Explain, using the statistics of government expenditure, personal taxation rates and transfer payments , what fiscal policy stance did the 2011-12 Federal Budget take?
Economic growth is driven by household savings being made available for capital investment. Describe the key aspects of the globalization of financial markets since 1980 that have helped drive growth in the world economy.
A pure monopolist determines that at the current level of output the marginal cost of production is $2.00, average variable costs are $2.75, and average total costs are $2.95.
A country has the per-worker production function, y=5k^1/2, where y is the output per worker and k is the capital- labor ratio. The depreciation rate is 0.15 and the population growth rate is 0.05. The saving function s=0.2Y wh..
Year Nominal GDP(in billions) GDP Deflator(base year 2005) 2009 $14,256 109.8 1999 $9,353 86.8 1. What was the growth rate of nominal GDP between 1999 and 2009? Round your answer to one decimal place.
Explain why does the aggregate supply curve become very steep after potential output is reached. What does it mean for inflation when the demand curve shifts and crosses into this steep portion of the supply curve.
Illustrate what is the basic objective of monetary policy. What are the strengths and weaknesses of monetary policy.
Explain all your answers below clearly, including brief definitions of each term.
You are the manager of a firm that produces and markets a generic type of soft drink in a competitive market. In addition to the large number of generic type of soft products in your market, you also compete against major brands such as Coca-Cola ..
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