Continue to assume that no other outside influences on the economy of Hawkland occur. Return to the graphs that you drew and show the economy of Hawkland in the long run. Label any relevant new curves with a two subscript (2) and use a two in a circle (k) to label the long run equilibrium. Answer the following questions regarding the the long run. Answers that say "increases" or "decreases" or similar without any further explanation will not receive credit. I do not need lengthy answers, but I need enough to demonstrate that you understand how the model works.
Requried:
a. What happens to the money wage and why? Explain and provide a numerical example.
b. What happens to the price level and real GDP? Explain.
c. What happens to the real wage? Explain and show your calculation. Explain and provide a numerical answer.
d. What happens to the unemployment rate? Explain and provide a numerical answer.
Answers: 3
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Over the past decade, brands that were once available only to the wealthy have created more affordable product extensions, giving a far broader range of consumers a taste of the good life. jaguar, for instance, launched its x-type sedan, which starts at $30,000 and is meant for the "almost rich" consumer who aspires to live in luxury. by marketing to people who desire a luxurious lifestyle, jaguar is using:
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During which of the following phases of the business cycle does the real gdp fall? a. trough b. expansion c. contraction d. peak
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Carmen’s beauty salon has estimated monthly financing requirements for the next six months as follows: january $ 9,000 april $ 9,000 february 3,000 may 10,000 march 4,000 june 5,000 short-term financing will be utilized for the next six months. projected annual interest rates are: january 9 % april 16 % february 10 may 12 march 13 june 12 what long-term interest rate would represent a break-even point between using short-term financing and long-term financing?
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Continue to assume that no other outside influences on the economy of Hawkland occur. Return to the...
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