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Suppose that the aggregate demand curve in a particular year is given by the algebraic
expression: Y = 3000 + 1000/P, where Y is the aggregate output and P is the price level as given by the GDP Deflator. Potential GDP (Y*) = 4000.
a. Plot aggregate demand and long run aggregate supply curves. Show aggregate demand schedule.
b. Suppose that the prices are flexible. Determine the price level and show it on the graph.
c. Now suppose that the following year, the aggregate demand curve is given by:
Y = 3000 + 1100/P. In what direction has the aggragate demand curve shifted? If the aggregate output remains at the potential level, determine the new price level. Calculate the rate of inflation between the two years.
QM2 Econometric Project As part of the course requirements you have to undertake an econometric evaluation of an economic issue using data that you have gathered either from the ho
#question.elaborate the different methods for the estimation of simultaneous equation model in case of exact and over identification?
i) Briefly distinguish between the Cournot duopoly model and that of Stackelberg. ii) Suppose the inverse market demand curve for a telecommunications equipment is P = 10
Students in the red/black card game had to make individual deals. How would the situation change if they could bargain collectively?
Paul's utility function is u(x, y) = xy 2 . Let unit prices be given by Px = 6 cents, Py = 2 cents, and assume that Paul's budget is the same as Peter's from the previous problem
Problem: a) In what circumstances would you apply switching models? b) Using dummy variables for seasonality show how you would test for January effects in financial data?
Process of least cost method and how to do a minimisation problem
Your firm will produce widgets for the next 10 years (starting at t=1). Annual revenue from selling widgets is $20,000. Production requires an initial outlay (at t=0) for machin
Can you explain the basic introduction of this methodology?
what factors dertemine underemployment/overemployment
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