Questions from General Economics


Q: a. If total spending increases, or decreases, does this

a. If total spending increases, or decreases, does this create a tradeoff between unemployment and inflation? b. What could cause a simultaneous decrease in unemployment and inflation? What could comb...

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Q: What happened in terms of the AS/AS model during the

What happened in terms of the AS/AS model during the Great Recession?

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Q: Assume a research firm collects survey sales data that reveal the relationship

Assume a research firm collects survey sales data that reveal the relationship between the possible selling prices of hamburgers and the quantity of hamburgers consumers would purchase per year at alt...

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Q: Evaluate the following statement: “A cartel will put an end

Evaluate the following statement: “A cartel will put an end to price war, which is a barbaric form of competition that benefits no one.”

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Q: Why is the short-run aggregate supply curve upward sloping?

Why is the short-run aggregate supply curve upward sloping?

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Q: Why is the long-run aggregate supply curve vertical?

Why is the long-run aggregate supply curve vertical?

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Q: What is the long-run impact of an increase in aggregate

What is the long-run impact of an increase in aggregate demand on the price level and real GDP?

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Q: What is the long-run impact of a decrease in aggregate

What is the long-run impact of a decrease in aggregate demand on the price level and real GDP?

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Q: Should government ensure basic comprehensive medical care for all citizens as a

Should government ensure basic comprehensive medical care for all citizens as a basic human right and pay for this through general tax revenues? Why or why not?

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Q: If your answer to #1 above was yes, what do

If your answer to #1 above was yes, what do you think would happen to your taxes? What would happen to your private health insurance premiums? Would you come out ahead or not?

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