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For several years, Albert acted as a collection agent for Paulette. Recently, Paulette revoked Albert’s authority to collect payments from customers. However, neither Paulette nor Albert told any customers of Albert’s termination. Yesterday, Theresa, one of Paulette’s customers, paid Albert the money owed to Paulette. Albert never gave this money to Paulette. Is Theresa liable to pay Paulette? Why or why not?
A building is expected to generate no cash flows for several years and then generate annual cash flows forever. What is the value of the building if the first annual cash flow is expected in 6 years from today, the first annual cash flow is expected ..
Using the factors that influence the price elasticity of demand, do you think a college education is an elastic or inelastic good? State the factors and then support your answer Often times when a college campus has overcrowded parking, they raise th..
how will my answers change if supply was perfectly inelastic. If supply was perfectly elastic. If demand was perfectly inelastic. If demand was perfectly elastic.
Whether a tax is shifted forward or backward depends on the price elasticities of demand and supply. The effect of a tax is the same thing as the incidence of the tax. The principle of comparative advantage is associated with
Illustrate what are implications for economic analysis if most people don't follow economic decision rule in many aspects of their decisions.
In its effort to reduce the time value of money, the Federal Reserve System began aggressively increasing the supply of money through Quantitative Easing. What is true and what is false about the above statement? Explain
During a war the government puts pressure on producers for heavy equipment, supplies, and services, making each more important.
Assume that when an economy has a GDP of $500, Consumption is $550. The MPC is .75. Investment is 25. Begin the problem by setting up an Income/Consumption Schedule like the one on page 220 of your text. Set up only the first two columns (1) and (2)...
Explain the relationship between interest rates and unemployment. How do changes in the interest rate affect the level of unemployment in the economy?
The subject of the last section of material, and the class generally, has been about creating a profitable and economically savvy business strategy, creating a competitive advantage, and maintaining that competitive advantage over time. What is the n..
What is the probable effect of each of the following on the exchange rate of a country, other things being equal? More domestic oil is discovered and developed. Which two of these do you think would have the greatest impact on the exchange rate?
The political business cycle refers to the fact that about every four years some politician advocates greater government control of the Fed.
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