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Read "How Did Economists Get It So Wrong" by Paul Krugman and second, the blog "History of Economics Playground", by Pedro Duarte, Tiago Mata, Clement Levallois, Yann Grd...etc., then in your won words, reconstruct what happened from 2006 through 2012 as it relates to microeconomic theory. Was there too much focus on the macro climate and not enough on the micro climate? Do you concur more with Krugman or Giraud? What is the basis for your opinion? Be sure to isolate other peer reviewed articles using the library that back your viewpoint and use it as a basis for analysis, in addition to what you see happening in the market yourself. Compare and contrast the two articles and the two authors' perceptions of the market.
A friend says that the economy will produce inside the PPF curve (like pt E below) since we in the economy value saving, or for some other reason. You say this is incorrect. Why? U
Fiscal Policy An Increase in Government Spending: Figure 1 Let us examine how an increase in government spending affects the interest rate and the level of income.
Now suppose that the archery instructors need a license in order to charge for archery lessons. The license is free of charge, but there are only four licenses distributed. Assumin
The following Table B presents the 2010 population, employment, and unemployment data among working age persons for several countries. a. Calculate the number of people in the lab
1. Consider the market for a particular type of computer memory chip. Would you expect the long-run (own-price) elasticity of supply to be larger or smaller than the short-run elas
how to solve problem of scarcity and choice
Long Run Equilibrium:Graphical Analysis In the long run the natural rate of output is the level of output to which the economy will tend to adjust in the long run. This indicat
Economics Please Help! Assume that two power plants, Firm 1 and Firm 2, release sulfur dioxide (SO2) in a small urban community that exceeds the emissions standard. To meet the sta
Q. What do you mean by Wage inflation? We will develop the Keynesian model removing the assumption of fixed nominal wages. We state wage inflation p w as the percentage averag
Macroeconomics: Question 1 and 2 relate to content and skills covered --- OPEN-MARKET MACROECONOMICS: BASIC CONCEPTS , International Trade and Exchange Rates Question 3 relates to
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