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You are an economic advisor to a new leader of a country that is trying to transition from a command-and-control economy to a market-based economy. Would you advise "gradualism" or "shock therapy"? Refer to historical examples from Commanding Heights Part II.
The kinked-demand (Sweezy) model of an oligopoly is based on the assumption that:
Why would the government bypass the free market in times of war? Is government rationing a better idea than rationing by price? Give reasons. How does government rationing affect the allocation of resources? Explain.
Explain how can be expected to happen to quantity of labour hired if minimum wage is increased next year. Be sure to explain in words illustrate what is happening on your graphs.
How does a negative externality change the supply and demand equilibrium point? Draw the graph with and without the negative externality and explain what happens to the supply ? ( Counpastion externality )
Communication Flows in organisations. Give an example of a communication for each of the 4 flows. Explain your answer.
A machine tool , which has been used in a plant for 10 years, is being considered for replacement. It cost $10,000 and was depreciated by MACRS depreciation using a 5-year recovery period. An equipment dealer indicates that the machine has no resale ..
If market participants expect stocks in the technology sector to increase in price next year, what will happen to supply, demand and price today? Give an answer and also show with a supply-demand curve. What else would be needed for an asset price bu..
Which of the following could pose a challenge in building partnerships with tribes?
Adam Smith favours a policy of laissez faire in managing economic activities. Why? Economics deals with the efficient use of resources? Why? Marginal analysis tends to produce more optimal outcomes when working with scarce resources. How?
Jacob Viner originally envisioned a situation where, in the demand/supply graph of a trade-diverting customs union, the demand cureve was vertical and all supply curves (including the supply curve of domestic producers) were horizontal. In this situa..
What are the differences between economic and accounting concepts of cost? T or F If a firm is making economic profits, then it must also be making normal profits. How are prices determined under perfect competition?
appliance store are unable to successfully compete also are driven out of business. why does Wal-Mart have a cost advantage over its competitor.
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