Attaching currency to SCARCE RESOURCES and using a fixed exchange rate regime is going to somehow going to bring more wealth and prosperity?
How long and painful is it going to be for people to save their money to buy things at an artificially high price?
Consider the optimal choice of a consumer between two goods, A and B, given prices of the goods, the consumer’s budget and preferences. Suppose the price for good A doubles. Show graphically and explain verbally the ‘substitution effect’ of this change in prices. Now suppose the price for good B...
A. a market economy will not experience unemployment
B. if unemployment occurs, it will cure itself because wages and prices will fall
C. aggregate expenditures may be too low
D. if inflation occurs it will cure itself because prices, wages, and interest rates will rise
...package will do in the ST and LT? I would rather have this more educational than something that says oh well obama is an idiot blah blah this and blah blah that. st and lt are well short term and long term. Is there any such bills that have been passed in the past that is similar to this one...