Write a 200 word posting in which you discuss if the Keynsian theory in economic thought is still relevant today.

QUESTION 36
In a 2017 study on the grocery market, Renkin, Montialoux, and Siegenthaler found that the cost of higher minimum wages was borne entirely by grocery buyers. This suggests that...
A. grocery demand was slightly more inelastic than grocery supply.
B. grocery demand was perfectly inelastic.
C. grocery supply was slightly more inelastic than grocery demand.
D. grocery demand and grocery supply had the same elasticity.
E. grocery supply was perfectly inelastic.
QUESTION 37
If the government requires businesses to pay for their workers' health insurance, then workers bear most of the burden of this mandate in markets with...
A. inelastic labor supply and elastic labor demand.
B. elastic labor supply and elastic labor demand.
C. elastic labor supply and inelastic labor demand.
D. inelastic labor supply and inelastic labor demand.

QUESTION 38
Renkin, Montialoux, and Siegenthaler studied the effects of higher minimum wages on grocery prices. What did they find?
A. The entire burden of higher minimum wages was felt by grocery buyers, which implies that grocery demand was more inelastic than grocery supply.
B. The entire burden of higher minimum wages was felt by grocery sellers, which implies that grocery supply was more inelastic than grocery demand.
C. The entire burden of higher minimum wages was felt by grocery sellers, which implies that grocery demand was more inelastic than grocery supply.
D. The entire burden of higher minimum wages was felt by grocery buyers, which implies that grocery supply was more inelastic than grocery demand.

In the following problem, assume that the UK currency is the pound sterling (PST) and the currency in the rest of the Europe is the euro (EUR).

a. Suppose that the PST appreciates relative to the EUR. Provide an explanation.

(i) In the UK:

‐ How would the export demand change? Why?

‐ How would the import demand change? Why?

‐ How would net exports change? Why?

(ii) In the rest of Europe:

‐ How would export demand change? Why?

‐ How would import demand change? Why?

‐ How would net exports change? Why?

Suppose that the central bank in the UK (The Bank of England) decides to raise interest rates because it is worried about high inflation. As a result, interest rates in the UK become higher than interest rates in the REST OF EUROPE. This acts as an incentive for EUROPEAN investors to increase the amount of funds they invest in British (UK) interest bearing assets. In order to increase their purchases of those UK assets, which are priced in PST, EUROPEAN investors have to convert EUR into PST. This conversion, in turn, increases the demand for PST. Based on the above information, please explain what will happen to the EUR--‐‑PST exchange rate. In other words, will the increased demand for PST, make PST gain value (appreciate) or lose value (depreciate) against the EUR? Why?

Why did Britain cut interest after Brexit? Please use Mundell Fleming model to explain.

PLEASE explain how to get the answer

Dollar-Value LIFO Retail

The following information is obtained from Burger Company's records. Burger uses the dollar-value LIFO retail method.

The company adopted LIFO on January 1, 2019, when the cost and retail values of the inventory were $40,000 and $100,000, respectively. Burger experienced the following price indexes:

Required

Compute the cost of the ending inventory for 2019. Round the cost-to-retail ratio out to three decimal places. Round computations and final answers to the nearest dollar.

Compute the cost of the ending inventory for 2020. Round the cost-to-retail ratio out to three decimal places. Round computations and final answers to the nearest dollar.

Compute the cost of the ending inventory for 2021. Round the cost-to-retail ratio out to three decimal places. Round computations and final answers to the nearest dollar.

discuss the core economic tools used in the classic microeconomic theory: Demand, Supply, and Market Equilibrium. Discuss how the market equilibrium works in the chemical industry... Who creates the demand and who the Supply of the goods/services you are providing? How does the market reach equilibrium?

Why has the American presidency grown in power and size? Give specific reasons. Are there any powers you think should be taken away from the president? If so, explain why.

Mary has standard indifference curves (convex). She always buys 3 pounds of coffee each month. Even when the price of coffee doubles, Mary buys 3 pounds of coffee.

(a) What is Mary’s price elasticity for coffee?

(b) Plot Mary’s indifference curves. Plot coffee on the horizontal axis and money to spend on other goods on the vertical.

1. Illustrate and explain using two (2) diagrams, the difference between demand-pull and cost-push inflation;

          (1 mark for each diagram plus 1 mark for each explanation)

2. Provide two examples or causes of each type of inflation.

          (1 for each example or cause: totals 4 marks)

3. Illustrate and explain using a diagram, how these two forms of inflation interact with each other.