Question Pretend that you have a lemonade stand and that the demand for lemonade in your neighborhood is estimated to be: Q = 75 – 200 P Just like in the lecture, you get all the materials to make the lemonade for free so we assume that the costs of production are zero. Your goal, […]
Question a) Which assumptions seem more realistic in parts (a) and (b)? The sticky wages and price model or fully flexible one? Why? Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”
Question a) What happens if wages and prices adjust very slowly in response to various shocks to the economy? Does this make business cycle, i.e. expansions and contractions in the economy, shorter or longer? Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”
Question What determines “sensitive parameters” values and why is this important? Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”
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