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Greece has been notorious for its lack of competitiveness and commensurately high current account deficits. Yet in 2016, Greece's current account was approximately balanced. How can one account for this apparent anomaly?
The? supply-and-demand model always applies in goods? markets, but only sometimes applies in service markets. The? supply-and-demand model is always appropriate for analysis. The? supply-and-demand model is appropriate for analysis under certain cond..
International Monetary Fund? (IMF) "quotas" refer to
Give an example to demonstrate how a firm acting out of self-interest to maximize its profits by offering goods or services in economic markets benefits consumers – even if it does not care about them. In other words, how does self-interest help achi..
Gross Domestic Product involves a calculation of the total value of the goods and services generated within an economy in a stated or identified time period. The main difference between real GDP and nominal GDP is that nominal GDP does not consider h..
Which of the following is not an accurate description of what can cause inflation?
The price elasticity for the product of your company on the market is Ep = -0.8. You are selling the product for $10 per unit. What would occur to the total revenue coming from this product is you increase price to $11 per unit?
A profit maximizing monopolist faces a demand function given by Q(p)=70-p. The cost function is C(q)=5q. Suppose that the government introduces a tax of $10 per unit of output. As a result of the tax, the monopolist will? (increase the price to what?..
Estimates of regression coefficients are most commonly obtained using OLS, ordinary least squares. Assume that we are interested in the relationship between Y and X and study this relationship by estimating the regression
The ASTD council on high-performance work systems noted that ____ is the most frequent mistake that companies make during implementation.
If the total cost of 20 units of a product is $20, and the total cost of 21 units is $21, then from 20 to 21 units of product the: Marginal cost is decreasing. Marginal cost equals average variable cost. Average total cost equals average variable cos..
Find the equilibrium given the following demand and supply for oil (in barrels)
Calculate the deadweight loss (DWL) from the price ceiling. Find a price floor that will result in the same magnitude of DWL. [Note: P = price per unit; Qd = hundreds of units demanded; Qs = hundreds of units supplied]
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