What is the central economic idea humorously illustrated in Art Buchwald’s piece, “Squaring the Economic Circle”? How does the central idea relate to recessions, on the one hand, and vigorous expansions, on the other?

Which of the following is not a doctrine of modern macroeconomics? A. Spending drives prices, production, income and employment in the short run B. Lower interest rates are required to increase investment spending during recession C. Depressions occur because prices adjust too rapidly to change in supply and demand D. Economic activity can be described in terms of mechanical interaction among aggregates like consumption, investment and GDP

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Explain why macroeconomists like to build models and why do macroeconomists build models based on microeconomic principles? Discuss.

Which of the following is the most likely to occur in the Circular Flow Model when a recession takes place? the shoe factory may decide to maintain the same amount of machinery in their plant the Ford car dealership reports higher than usual sales O very little activity by unemployed workers on online job search sites is reported Tom's Corn Farming Inc decides to purchase 200 acres of additional farmland

Which of the following questions would be studied in the area of microeconomics? Select one: a. What determines the number of hours an individual works? b. Do interest rates affect net exports? c. Will an increase in government spending cause inflation? d. What portion of total spending comes from households in the economy?

What is the shape of a typical Hubbert Curve?

Draw the circular flow diagram of 4 main components (Agents) of macroeconomics and clearly show the interaction among them.

please answer the question in the attached picture with work shown, thanks! #5

What is the circular flow model, and how does it illustrate the flow of goods and money in an economy?