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Suppose that midterm grades determine your nal course grade putting the Midterm 1 grade on the horizontal axis and the Midterm 2 grade on the vertical axis, draw indifference curves describing your preferences in the following scenarios. In addition, write down a utility function that is consistent with the preferences in each case. (a) Each midterm is worth 50% of your nal grade. (b) Midterm 1 is worth 25% and Midterm 2 is worth 75% of your nal grade. (c) The lower of your two midterms is worth 100% of your nal grade. (d) The higher of your two midterms is worth 100% of your nal grade.
Q. Assumptions of the AS-AD model? The most significant change we make going from IS-LM model to AS-AD model is to allow P to be endogenous. As P was constant in IS-LM model, w
Q. Show the advantage and disadvantage of money? Money has one significant advantage and one disadvantage compared to bonds: · Advantage: Money is more liquid than bond
Employment Full employment of human and non-human resources or at least minimization of unemployment is an accepted goal of macroeconomic policy. Also the best way to alleviat
Use a diagram of the open economy model (e.g. fig 32.4 from the text) to illustrate and explain the effect of the following event on the market for loanable funds, the level of net
If Country A had four times the initial level of real GDP per capita of Country B and it was growing at 1.4 percent a year, while real GDP was growing at 2.3 percent in Country B,
Suppose the inverse demand curve for a market is equal to p = 100 -- 0.3Q. The inverse market supply curve is p = 20 + 0.5Q. 1. Calculate the equilibrium price and quantity;
To overcome the stagnant growth it was experiencing for the past 10-15 years, Japan undertook which of the following measures? Answer Undertook programs to build infrastructure
project with introduction,aims and objectives,need and importance,preparation of data and information,case study,problems,conclusion
what does phillip curve signify? how do you reconcile the difference in the shap of the curve in the short run and the long run?
why is international trade important for south Africa
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