Q1 what do we call a very very rapid andor high increase in, Ask an Expert

Economics

Q1. What do we call a very, very rapid and/or high increase in the general price level?

Q2. Suppose Pitcairn Island's small economy has 80 people working, 10 people are looking for work, and 10 people are retired. The total population is 100. What is the labor force participation rate?

Q3. Wolfers Reading: Name one issue on which economists are said to have reached consensus. What is the consensus on this issue, in general? (1-3 sentences)

Q4. In a chapter 2-type economy without government or foreign trade, suppose both consumption C and investment I arc positively related to aggregate output/income Y. That is, let:

C = a + bY and I = u + vY

Where a, b, u, and v are just given constants (a > 0, u > 0, 0 < b < 1, and 0 < v < 1). Note: Investment is now a function of Y instead of just a given constant I₁.

a. Provide a one-sentence economic interpretation of b. (Don't just tell me its name. Don't just use algebraic terminology.) Do the same for v.

b. Find an expression for equilibrium output Y^*. (Hint: Trust in the short-run equilibrium condition.)

View complete question

Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M91946259

Have any Question?Write your Review or question?

Related Questions in Macroeconomics

Economics assignment -part a microeconomicsconsider the

Economics Assignment - Part A: Microeconomics Consider the following three sources. Source 1. Macquarie Analysis: Woolworths Trails Coles on Grocery Prices (by Catie Low) Source 2: Supermarkets Price War Source 3: Suppor ...

Question the knowledge economy what leads to a patent race

Question: The knowledge economy What leads to a patent race? Is such a race productive or unproductive? Hint: Think of how patents allow companies monopoly power for a temporary period. The response must be typed, single ...

Question when using ols we assume that the errors are

Question: When using OLS, we assume that the errors are independent (i.e., not serially correlated) and normally distributed with constant variance (i.e., homoscedastic). These assumptions allow us to use the F and t dis ...

Question when other firms reactsuppose you are the

Question: When other firms react Suppose you are the owner-operator of a gas station in a small town. Over the past 20 years, you and your rival have successfully kept prices at a very high level. You recently learned th ...

Question according to the definition a perfectly

Question: According to the definition, a perfectly competitive firm cannot affect the market price by any changing only its own output. Producer No. 27 in problem 2 decides to experiment by producing only 8 units. a. Wha ...

Question mandy has an income of 800 in period 1 and will

Question: Mandy has an income of $800 in period 1 and will have an income of $500 in period 2. Her utility function is U(c 1 , c 2 ) = c 0.80 c 0.20 , where c 1 is her consumption in period 1 and c 2 is her consumptio ...

Question instruction there is a dataset attached called

Question: Instruction: There is a dataset attached called "caschool", it is an excel file. I also upload the description of the data. It is the explanation of the data. If you don't read it you won't be able to answer qu ...

Question why might a parent company like mcdonalds or

Question: Why might a parent company like McDonalds or Hilton choose to franchise its local outlets rather than own them and staff them with employees? In many smaller cities all McDonald's outlets are owned by the same ...

Question assume an economy is described by the following

Question: Assume an economy is described by the following economic parameters: C = 0.8YD YD = Y + TR - tY TR = 100 t = 0.3 I = 1000 - 65i G = 600 L = 0.25Y - 75i M/P = 600 What is the equation that describes the IS curve ...

Quesiton due to low unemployment firms are having tougher

Quesiton: Due to low unemployment, firms are having tougher time to find qualified workers. What will be the slope of aggregate supply curve if a country runs out of qualified workers to hire? The response must be typed, ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Macroeconomics Expert