TRUE/FALSE. Write ‘T’ if the statement is true and ‘F’ if the statement is false. 1) To the extent that customers can resell products to each other, the effectiveness of a price discrimination strategy will be undermined. 2) In the Airline Pricing Strategies case discussed in the text, a product with fewer rules and restrictions can command a higher price. 3) The markups restaurants apply […]
Identify and explain one advantage and one disadvantage in using monetary policy tools rather than fiscal policy tools to combat the effects of a recession on a national economy. Disadvantage of monetary policyA major disadvantage of monetary policy against fiscal policy is that monetary policy does notdirectly affects the demand side of the economy. Fiscal policy…
There is news that the price of Tucker’s Cider Explosion will increase significantly next week. If the demand for Tucker’s Cider Explosion reacts only to this factor and shifts to the right, the position of this demand curve has reacted to a change in: a. expectations. b. income levels. c. tastes. d. the price of other goods.
Explain quantitative easing and the three times it occurred during the Great Recession, and how it affected the recovery. Also reverse repos and how they affected recovery please from an intermediate macroeconomic perspective.
. Immigration Assume that Mexican migrants to the United States come to Amherst to work as dish washers in restaurants, while those born in the United States work either as dish washers or cooks and that while some prefer one occupation and others might prefer the other, they will go from one occupation to the other depending on the relative wage. Also assume that restaurants […]
The government has the ability to influence the level of output in the short run using monetary and fiscal policy. There is some disagreement as to whether the government should attempt to stabilize the economy. Which of the following are arguments in favour of active stabilization policy by the government? Check all that apply. A. The current tax system acts as an automatic stabilizer. B. […]
In a certain country, output is produced using only labor and land. The production function is Y=AXαL1-α where Y is output, X is the quantity of land, and L is the quantity of labor. Factors of production are paid their marginal products. In this country there are 100 acres of land and 200 workers. Land earns a rent of $1,000 per acre per year. Workers […]
discuss why it is often asserted that that exporters suffer when their home currencies appreciate in real terms against foreign currencies and prosper when their home currencies depreciate in real terms
Suppose that money supply unexpectedly increases to 4488. Using theAD-AS model calculate the short run and medium run impacts of such anincrease in money supply. In particular calculate the short run and mediumrun equilibrium values of the price level, expected price, unemploymentand output.(Hint: You may need to use the following formula to solve a quadraticequation.If ax2 + bx +c = 0Then, the values of x […]
QUESTION 7 When a public transit system (such as Metro) raises its fares, it usually experiences an increase in total revenue. This suggests that demand for this service is: A.Relatively elastic with respect to price B.Unit elastic with respect to price. C.Relatively inelastic with respect to price. D.There is not enough information to tell.
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