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1. Which of the following is an ideal condition for a free market? Select one: a. There are no parties, institutions, or governmental units regulating the quantity of the goods being bought or sold in the market. b. There are many buyers and many sellers, and all of them have a substantial share of the market. c. The participants in the market have strong preferences as to which seller or buyer they would deal with. d. All the buyers and sellers in the market are free to leave the market but there are entry barriers. e. All buyers have full knowledge of what other buyers and sellers are up to including quantity of goods sold, but not the prices and quality of goods being sold.
2. According to the Freedom of Information Act, _____. Select one: a. a federal agency is required to respond to a document request within 10 days b. all the documents are available for public inspection c. requesters are not required to pay the cost of locating and copying the records d. any person has a legally enforceable right to access to geological information concerning wells e. there are a total of five exceptions to the Act
Macroeconomics Question: Describe what the permanent income hypothesis says about the impact of temporary tax cuts or spending increases and explain why?
Suppose the cost function is a multivariate of the type: where Q is output and K, capital; L, Labor; and M, materials are inputs. Find the marginal products of the inputs. Discuss the returns to scale. What is the relationship between returns to scal..
In the past, some people believed that the Federal Reserve routinely expanded the money supply during presidential election years in order to stimulate the economy and help the incumbent president. For this question, assume that the Fed increases inf..
which the court could find that Owner is liable to Shopper?
Which of the following would be EXCLUDED from 2006 GDP? (a) the sale in 2008 of the 2008 farm crop (b) the sale in 2008 of a factory built in 1995 (c) the construction of a factory in 2006 (d) none of the above.
If you had $ 4000 now and invested it at 6% simple interest, how much would it be worth 12 years from now? How much would it be worth if you receive 5% compound interest instead of 6% simple interest?
Does the best regression model have significant multicollinearity?
A firm that is considering one independent project should accept it if
After reading about the Golden Standard, William Jennings Bryan's emotional speech, write an essay analyzing what might have happened if William had won the the 1886 election in the United States?
The European Central Bank (ECB) has been known for setting strict inflation targets (in other words, the monetary policy has been oriented towards maintain price stability).
Constrained Optimization in Economics 2. Minimize costs for a firm with a cost function Subject to the production quota
Consider the current economic conditions, including inflation and economic growth. Do you think the Fed should increase interest rates, reduce interest rates, or leave interest rates at their present levels? Offer some logic to support your answer
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