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1. What are the three basic functions of money? Describe how rapid inflation can undermine money’s ability to perform each of the three functions.
2. What are demand shocks? Give an example of a positive and a negative demand shock.
3. What is the difference between a slowdown in economic growth and a recession?
4. What is the opportunity cost of unemployment for an economy? What social problems have been linked to higher rates of unemployment?
What is the biggest disadvantage of using shells as money.
If deficit spending "crowds out" some private investment, could future generations be worse off? If external financing eliminates crowding out, are future generations thereby protected?
Suppose the firm is operating in a high-wage country, where capital cost is $100 per unit per day and labor cost is $80 per worker per day. For every level of output, which technology is cheapest.
Suppose the owner of the trawler can sell al the fish caught for $75 every 100 pounds also can hire a man crew members as desired by paying them $150 every week.
Illustrate what is the probability that a randomly selected hair dryer will be in working condition for more than 60 months.
q1. sanborn a manufacturer of electric roof vents realizes a cost of 55.00 for every unit it produces. its total fixed
The private marginal benefit for commodity X is given by 50-5 X , where X is the number of units consumed. The private marginal cost of producing X is constant at $10. For each unit of X produced, an external benefit of $5 is imposed on membe..
q.suppose there is a credit market imperfection due to limited commitment. each consumer has a component of wealth that
Illustrate what way the U.S trucking organization exemplified the capture theory hypothesis of government regulation prior.
Blake eats two bags of potato chips each day. Blake's hourly wage increases from $9 to $15, and he decides to stop eating generic chips and instead eats a name brand potato chip. Use the midpoint method to calculate Blake's income elasticity of deman..
What are the economic concept? What is market? What is a competitive market? What is supply and demand?
Using information given: What is average cost of first do these of a new drug. What about marginal cost of subsequent doses? Is this consistent with behaviour of costs for an information product.
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