Question
1. Derive the Euler's formula and proof the values mathematically 2. Using a well labeled graph show equilibrium in the labor market 3. Explain why
1. Derive the Euler's formula and proof the values mathematically
2. Using a well labeled graph show equilibrium in the labor market
3. Explain why supply curve can be backward sloping
4. Draw a backward sloping supply curve and show a well labeled axis
5. Graphically show the Keynesian view of aggregate supply (short run supply curve)
6. Explain how fiscal policy can be used to solve macroeconomic problems
7. Define potential output
8. Using a graph show the relationship between output and price in long run
9. Define marginal product of labor
10. Explain why aggregate demand curve is positively sloping
11. Critically explain limitations of monetary policy
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