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How the budget affects economic activity. Explain when the government should have a budget deficit and when it should have a budget surplus.
Microeconomics, Economics
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Question: Suppose that twenty-five years ago a country had nominal GDP of $1,800, a GDP deflator of 150, and a population of 100. Today it has nominal GDP of $2,800, a GDP deflator of 270, and population of 180. What hap ...
Question: Using two demand and supply diagrams, one for the low-wage labor market and one for the high-wage labor market, explain how a program that increased educational levels for a substantial number of low-skill work ...
Question: If economists generally agree that fixed-weight price indexes overstate the actual rate of inflation, why is the CPI still the most popular and widely quoted measure of inflation? The response must be typed, si ...
Question: In Europe, the UK is the only country where there has been a consistent tradeoff between inflation and unemployment. What factors caused this tradeoff to occur in Britain but not in Continental Europe? The resp ...
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