Suppose tennis shoes cost $50 per pair and firms supply 50,000 pairs of shoes. If the price decreases to $45 and firms decide to supply 48,000, the elasticity of supply equals
A) 0.0025.
B) 0.04.
C) 2.63.
D) 0.39.
D
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If actual experience supports two competing theories, then both theories are proven to be true
Indicate whether the statement is true or false
Which of the following is not true of long run equilibrium under monopolistic competition? a. Price equals marginal cost
b. Price equals average cost. c. Price equals minimum average total cost. d. None of the above.
An appropriate Keynesian response to a recessionary gap is to: a. decrease net taxes
b. decrease government spending. c. increase interest rates. d. increase the cash reserve ratio.
After this short reminder at the top: write an essay discussing the economic impacts of the shock on Turkey's economy. In your article, discuss the effects of this economic shock on Turkish economy using the concepts of GDP growth, inflation, unemployment, money markets, interest rates, aggregate supply and aggregate demand. Use a narrative based on the economic theories we saw in the course. Connect your ideas to each other with a scientific background. Give policy suggestions to shorten the effect of this shock on Turkish economy. While giving the policies keep in mind and state the constraints that the Turkish economy currently facing. Articles that are not scientifically written or written on internet slogans may not bring you the points you want.
What will be an ideal response?