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Assume that the price of x is $2 and the price of y is $1 and Brian has an income of $10. How much does he consume of each good? Assume Brian's income increases to 20$, calculate his demand for each good and explain whether Brian considers x and y to be normal or inferior goods.
Under its present policy of purchasing 5,000 sinks per order, what is Plumbing Supplies total annual inventory cost? Calculate the Economic Order Quantity for Plumbing Supplies Inc.
How macroeconomic equilibrium does an economy achieve. Elucidate what affect does a high level of inflation have on macroeconomic equilibrium.
What is the rate of inflation of the U.S. dollar is 5% and the rate of inflation of the Japanese yen is 2%. What is the percent change in the real $/Y exchange rate.
Assume that he marries her the subsequent year. Other things equal, which of the following would be true concerning the reported official GDP the following year.
Why do you think China is now a favor location for so much high technology manufacturing activity? How will China increasing involvement in global trade help that country? How it will help the world develop economies? What potential problems are asso..
Measles has become an epidemic here in Orange County. About 1 in 1000 people will die after contracting the disease. Because this is such a high rate, health officials in Orange County would be well advised to pay for anyone to get a vaccination.
What are your thoughts about the role of international institutions ( WTO, IMF and World Bank) on providing order and reducing uncertainty in the global economy?
According to studies undertaken by the Department of Agriculture, the price elasticity of demand for cigarettes is approximately -0.3 and the income elasticity is approximately 0.5. What effect would a 10% increase in the price of cigarettes due to i..
if you human director at casino, what should you have done prior to firing steward to be sure you had all of your bases covered.
If demand for medical care is perfectly inelastic, hospitals and physicians are able to charge any price (up to some maximum) without losing any patients. Explain your answer using the model in Dranove & Satterthwaite (1992, 2000).
Suppose that the government imposes a temporary tari? on all imports, which makes imports more expensive relative to domestic residents (reducing the trade balance for any fixed level of the real exchange rate). Discuss the implications of this polic..
determine either the demand for student employees by the restaurant would increase, decrease, or remain unchanged.
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