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Describe the ways in which election ballots have changed over time, and why this benefits and matters to the modern voter. How, in both local/state and national elections does an individual vote contribute to the election of a candidate
Compared with perfect competition, quantity produced in monopolistic competition is inefficient as price is higher than marginal cost (i.e. allocative inefficiency). Why do some economists argue that even if price is higher than marginal cost, it doe..
Elucidate what would you recommend as a course of action, if any. For the industry you have chosen, discuss how price moves from today to the future.
What are transfer payments, and how do they make their way into the GDP calculation? If one added up the value of all intermediate goods that went into the production of real GDP, the total value of intermediate goods would be
What are your thoughts on tort reform, more specifically setting caps/limits (ceilings) on jury awards/verdicts in tort liability cases. Class action cases? Corporate liability cases? Is this a good idea? Who would lobby for these caps? Who DOES lobb..
Sam Musso is planning to retire in 20 years. He can deposit money at 8% compounded quarterly. What deposit must he make at the end of each quarter until he retires so that he can make a withdrawal of $45,000 semiannually over five years after his ret..
Elucidate how much the money supply will rise in response to a new cash deposit of $500 by completing the accompanying table.
Which of the following trends favor a more labor-intensive method of production? A growing number of desperately unemployed people as the result of rural-urban migration. A limit to the level that wages can fall (subsistence)
Cyclical budget balance of the US government explains what should be the budget situation over the expected business cycle of the US economy. Therefore, cyclical budget balance =
Suppose that computers use two units of capital for each worker, so that KC = 2LC, while shoes use 0.5 units of capital for each worker, so that KS = 0.5LS. There are 100 workers and 100 units of capital in the economy. Solve for the amount of labour..
Assume a firm produces 500 units of a good by using two inputs, capital and labor, whose per unit prices are $10 and $4. Assume also that the marginal physical product of the last unit of capital is 30 and the marginal physical product of the last un..
The company depreciates its assets on a straight-line basis and has a marginal tax rate of 40 percent. The firm's cost of capital is 14 percent. Based on the internal rate of return criterion, should this machine be purchased?
A monopolistically competitive firm faces the following demand curve for its product: The firm has total fixed costs of $20 and a constant marginal cost of $5 per unit.
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