In Blue Ocean Strategy, success comes primarily from outperforming rivals in existing markets through superior price or quality.

In the figure above, AD1, LRAS1 and SRAS1 denote AD, LRAS and SRAS in year 1, while AD2, LRAS2 and SRAS2 denote AD, LRAS and SRAS in year 2. Given the economy is at point A in year 1, what will happen to the unemployment rate in year 2?  

Liquidity is defined as

In data analysis, the ___________ function in Excel is used to calculate the probability of observing a specific value or range in a normal distribution, given a known mean and standard deviation.

How might a U.S. federal budget surplus affect the trade balance? (Assume exchange rates are stated in terms of foreign currency per U.S. dollar.)

A decrease in government purchases of $300 billion will shift the aggregate demand curve to the left by

Using aggregate demand and aggregate supply, explain what happens in the short run if the Federal Reserve raises interest rates in the economy. Be sure to detail what happens to aggregate demand, the price level, the level of GDP, and unemployment. Assume that the economy is at full employment before the interest rate increase.

If the Federal Reserve announces that its target for the federal funds rate is rising from 4 percent to 4.25 percent, how do you expect workers and firms to react?

Tariffs imposed by a government increase the competitiveness of foreign firms selling in that domestic market.

How does expansionary monetary policy increase spending in the economy compared to how expansionary fiscal policy increases spending in the economy?