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(Bounds of the Firm) Ashland Oil, Inc., buys its crude oil in the market. Larger oil refiners, such as Texaco, drill for their own crude oil. Why do some oil companies drill for their own crude oil and others buy crude oil in the market?
Which of the following policy combinations were used by the government during the financial crisis of 2007-2009 in the U.S.?
What is the relationship between inflation and unemployment? What would happen to inflation if the unemployment rate would decrease? Make sure to explain your analysis.
Taxi fares in New York recently were increased by nearly 50%. Predict the effect on the price of taxicab medallions, the earnings of taxicab drivers and congestion in New York streets.
One unit A is composed of two units of B and three units C. Each B is composed of one unit of F. C is made of one unit of D, one unit of E, and two units of F. Items A,B,C and D have 20 , 50, 60, and 25 units of on- hand inventory.
1. disinflation and credibilityassume output is initially at its equilibrium level and inflation is 12. show this on
An employee receives a letter of reprimand that goes in his personnel file but is not demoted and not suffer any other action. Does the letter constitute an adverse employment action? Why or Why not?
someone drives through green hills you see large luxuriant homes spread across very large and beautiful pieces of real estate. Why are nice homes usually built on expensive lots rather than cheap ones
What is her marginal rate of substitution when L = 100 and she is on the budget line? What is her reservation wage? What is her optimal combination of C and L?
Why is the money multiplier in the United States smaller than the inverse of the required reserve ratio? Provide one (1) reason. Explain why depositing cash into a checking account does not change the money supply. Provide at least one (1) supporting..
Explain briefly how a change to the following MS, MD, or P would shift LM function to right. Include in your discussion whether the variable would have to increase or decrease to cause the rightward LM shift.
Alexander studies away from home. While at school, he spends all his income on air travel and economics textbooks. In a diagram with air-travel as the x-axis good, as pair increases while ptext remains unchanged, Alexander's price consumption path..
Joe the Plumber runs a competitive firm. He does 20 works per week, and charges $50 per week. His total cost each week is $1200, of which $300 is Fixed cost. Draw a diagram about his short and long run decision.
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