The Phillips curve, supply shocks, and wage flexibility Suppose that the Phillips curve is given by ?? = ?? ? − ?(?? − ?? ) (1)

where the natural rate of unemployment, ?? = ?+? ? .

[Recall that this Phillips curve was derived under price-setting and wage-setting:

?? = (1 + ?) ?? (2)

?? = ?? ? (1 − ??? + ?) (3)

where m is the mark up over marginal cost, which is just the wage rate Wt when output is assumed to simply equal employment: ?? = ?? We can think of ? as a measure of wage flexibility---the higher is ?, the greater is the response of the wage to a change in the unemployment rate, ?? . z represents other factors affecting wage bargains.]

a. Explain how you obtain (1) from (2) and (3).

How can you tell what kind of market structure something is by only looking at a graph that shows demand, marginal revenue (in the short and logn run) and marginal cost and average cost? What do you look for to determine the type of market structure that it is?

When the Fed lets its assets mature (Ex. when a treasury bond matures), does the Treasury or someone else pay the Fed money?

Develop and discuss with examples of the personal computer industry of apple/mac and windows where appropriate the various aspects that make up Michael Porter's five forces of an oligopoly for personal computer industry of apple/mac and windows industry.

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I need some assistance with my 2000 word essay I am writing about COVID-19 and how it is affecting and affected the business industry around the world. Thank you.

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Question 33 options:

Compare and contrast the use of government spending changes versus tax changes as a means of influencing the course of the economy. Is one or the other preferable in specific situations? Imagine for a moment that you have two roommates, who each have opposing viewpoints on nearly everything, including politics and economics. Taylor is adamant that the best way to manage the economy is through tax changes, while Morgan insists that it’s better to adjust the economy through government spending. What would a Neoclassical economist say? What would a Keynesian economist say?

1. Compare and contrast the effects of non-monetary and monetary competition on consumer and producer surplus.

2. Assume that due to quarantining, the supply of goods is fixed, i.e., price has no effect on the quantity available. In this case, does letting the price increase serve a useful function