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Short essays. Answer each question as completely as possible:
1. Distinguish between liberal economics and conservative economics. Why is macroeconomics an inherently political subject?
2. Summarize the problems that can be created by rapid inflation. How can inflation become self-perpetuating?
In the short run, the price at which a firm's total revenues equal its total costs is?
Draw a hypothetical demand and supply curve for cyber cafes - coffee houses with computers hooked up to the Internet with access to daily newspapers (among other things) at each table. Show how demand or supply is affected by the following:
The New York Times (Nov. 30, 1993) reported that "the inability of OPEC to agree last week to cut production has sent the oil market into turmoil...[leading to] the lowest price for domestic crude oil since June 1990." Why were the members of OPEC tr..
Interest on the public debt is included as a part of government purchases in the determining GDP may arise since.
Suppose someone tells you that, over time, free trade is helping capitalists and harming workers. What fact would you cite to challenge this statement?
Mr. Carloan is paying off a car loan by paying $400 at the end of each month. The nominal interest rate is 12% per year. How much interest is paid in each of the following? Last payment. Fourth from the last payment
England can produce 50 units of wine if it produces no cloth, and 100 units of cloth if it produces no wine. Using this information, we can conclude that.
Describe the current state of the U.S. economy using the two monetary aggregates (M1 and M2) currently published by the Federal Reserve. In your description, illustrate the trends of the two monetary aggregates. . Evaluate what the Federal Reserve Ba..
Describe in detail the mechanics of the Circular Flow model. Discuss how the government and international trade could be included in the circular flow.
When the monopolistically competitive firm lowers price from $16 to $12, elucidate how much does total revenue change.
What is happening to the US trade balance in each of the following situations? Explain. a. Lower international trade barriers for imported products in the US b. Prices in the US decreases more than prices abroad c. Economic improvement starts in Cana..
January $40,000, February $30,000, and March $50,000. For each month, prepare the entry to assign overhead to production using a predetermined rate of 80% of direct labor cost.
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