Explain how the elasticity of supply is related to the change in quantity supplied while a cross price elasticity of supply is related to a change in supply.

A bank has ​$255 million in total​ reserves, of which ​$11 million are excess reserves. The bank currently has ​$3 comma 667 million in​ loans, ​$1,000 million in​ securities, and ​$131 million in other assets. The required reserve ratio for transactions deposits is 10 percent.

Calculate the sum of this​ bank's total amount of liabilities and net worth ​

Calculate the additional amount of loans this bank can make to households and firms.

Calculate the current quantity of transactions deposits at this bank

Briefly explain what private action is prohibited regarding "takings" and give one example.

1) Compare and contrast the phases of the business cycle.

2) If efficiency is our goal, how do we know if our economy is running efficiently or not? Given the articles you have read and the things you have learned, what do you think about our current

economy? Is it running efficiently now?

Economies of scale can reward a company for growing. If the firm can achieve economies of scale, the average costs of a unit of production (of either a physical good or a “unit” of service) goes down as the company grows. What is the role of “fixed costs” in this?

Please use a graph to support your answer.

1. What is the definition of the unemployment rate? What are some potential short-comings of this single measure/

How important is the state of the economy in the November 3rd election?

Use supply and demand diagrams to show what would happen if additional LTC insurance allows more substitution of nursing home care for hospital care. According to your diagram, do LTC expenditures increase or decrease? Do hospital expenditures increase or decrease? Do total expenditures (LTC + hospital) increase or decrease? Explain.

What is the difference between a change in demand and a change in quantity demanded?

Use a graph (or two) to show the difference.

1. Assume that there is an increase in the labor productivity in an economy. What will happen to the LRAS? Show it graphically using the labor market and the production function and explain.
2. Assume that there is an increase in population in an economy. (for example, migration) What will happen to the LRAS? Show it graphically using the labor market and the production function and explain.

3. AD-AS and Phillip Curve Model, Money Market and Banking System

   1. Why does the aggregate demand curve have a negative slope?

   2. Why is the long run aggregate supply curve vertical?

   3. Why does the short run aggregate supply curve have a positive slope?

   4. Graphically illustrate an economy in the long run equilibrium, producing at the full employment level of production. Indicate the equilibrium Price level (P*) and the level of real GDP (Y*)

1. The Treaties of Westphalia are often viewed as the beginning of modern international relations. Why are they a useful benchmark? What factors does this benchmark ignore?

In Ch. 12 of Keynes’s The General Theory of Employment, Interest and Money

1. What is Keynes arguing in this chapter? Be as specific as possible. Does this chapter at all resemble or build off of Marshall’s approach to science?
2. Is this chapter relevant today? Why or why not?
3. What does Keynes mean when he refers to “the job likely to be ill done?”

Microeconomics question:

Consider the special case and assume that for a natural monopolist the marginal cost is constant and there is high fixed cost. Show graphically how the natural monopolist maximizes economic profits. At the point of profit maximization, what is the monopoly price and what is the monopoly quantity? Suppose now the natural monopoly is regulated. What is the best-regulated price? What happens to economic profits with the regulation? How is the consumer surplus changed due to the regulation? Show graphically.