Suppose that a worker in Cornland can grow either 40 bushels of corn or 10 bushels of oats per year, and a worker in Oatland can grow either 5…
September 5, 2020
Using both the percentage and the mid-point formula, what will be the elasticity co-efficient if you use the percentage formula and the midpoint…
September 5, 2020

Suppose that money supply unexpectedly increases to 4488. Using theAD-AS model calculate the short run and medium run impacts of such anincrease in money supply. In particular calculate the short run and mediumrun equilibrium values of the price level, expected price, unemploymentand output.(Hint: You may need to use the following formula to solve a quadraticequation.If ax2 + bx +c = 0Then, the values of x can be calculated asab b acx24 2    .)

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