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Evaluate the following statements as TRUE or FALSE and then explain your answer:
a. If the study of carpentry becomes more difficult due to complex technological innovations and usage of sophisticated tools, the marginal benefit of achievement will decline.
b. Generally rising expenditure per student are associated with increase in educational achievement.
c. Introduction of school vouchers would increase school choice by parents.
d. Frictional unemployment is inevitable no matter how government work hard to reduce it.
e. Minimum-wage laws are the major explanation for structural unemployment for college graduates than to teenagers.
Supply and demand for corn. At $2.13 per bushel, the annual supply for corn in the Midwest is 8.9 billion bushels and the annual demand is 6.5 billion bushels. When the price falls to $1.50 per bushel, the annual supply decreases to 8.2 billion bus..
The Fed along with many other central banks in the world has adopted the policy of inflation targeting. Explain what is inflation targeting. What are the advantages and disadvantages of inflation targeting? What is the main difference between Inflati..
This marginal cost is the only cost associated with the product. Illustrate what are the profit-maximizing price also quantity. Illustrate what are your optimal price also quantity.
Discuss the international parity conditions. Explain the essence of purchasing parity power. What would happen to purchasing parity power exchange rate if the law of one price were true? What is the difference between the purchasing parity power and ..
Are innovators always bad or criminals? Can you think of any examples in which people accepted societal goals, rejected the means, and came up with their own legal and creative way of achieving the goals? Please explain.
Charlie has $ 1000 to allocate between football tickets and movie tickets over the year. The price of each football ticket is $50, and the price of each movie ticket is $10. His marginal rate of substitution of football tickets for movie tickets equa..
For each category, indicate which condition is associated with higher rivalry among competitors.
1. Based on research, summarize the economic booms that India and China enjoyed within the past few decades. What economic policies do they have in common?
Where Q is the number of cuts per week and P is the price of a hair cut. Terry is considering raising her price above the current price of $15. Terry is unwilling to raise price if the price hike will cause revenues to fall. Should Terry raise the pr..
In 1980, per capita GDP of Rwanda was about $728 and in 2010 about $1,025. Calculate the average per capita GDP growth rate of Rwanda from 1980 to 2010.
a rich man has 1,000,000 in the bank earning 7% interest. He plans to give away 100,000 at the end of the year and to increase his gifting by 10% each year there after. How long with the million dollars last?
Apply the decision-making model developed. What are the basic steps in all types of decision making processes.
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