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Historically the gold standard was the anchor for nearly every traded currency. Explain how the gold standard worked as nations traded domestically and internationally at fixed exchange rates.
Find internal rate of return to nearest whole percentage point. Oak Furnishings is considering a project that has an up-front cost.
The "Vintage Sisters" collect old junk, fix it up, and sell it at craft fairs as a hobby. All of their costs are covered by their poor father who lets them use his shop, tools, and paint for free. When pricing their stuff, what elasticity of demand s..
If a firm’s output is produced according to Q = 4LK, the price of K is $10, and the price of L is $40, what is the cost-minimising combination of K and L capable of producing 64 units of output? The cost-minimising quantity of K is? The cost-minimisi..
Name three products for which impatience on the part of the consumer enables a firm to price-discriminate. At many amusement park, customers who enter after 4 pm receive a steep discount on the price of admission. Explain how this practice is a form ..
Compare performance of a single-price monopoly with that of perfect competition. Explain how price discrimination increases profit. Explain why monopoly can sometimes achieve a better allocation of resources than competition can.
Everything else held constant, when the nominal exchange rate in units of foreign currency per unit of domestic currency decreases, the ________ domestic assets ________.
Today we see a lot of activity within the international trade arena as the U.S. trade deficit has soared to a record high. Trade is designed to create bigger market opportunities, so why is the balance of trade so out of balance for the U.S.? Is it b..
Under a competitive market, a new tax will impose an economic burden,
Examine the level of business activities in the U.S. economy over the past few months. Which trends do you find of interest? What stage of the Business Cycle is the U.S. economy, given the current levels of business activity? Use current data
You are a member of an area prescribing committee (APC) which is reviewing the treatment options for a cancer which is universally rapidly fatal (usually within months) if not treated. From a society perspective, which treatment generates the greates..
Demonstrate that inflation is always a monetary phenomenon in the long-run, and explain why it might not always be a monetary phenomenon in the short-run.
Suppose that the company that owns all of the vending machines on your campus has doubled the price of a can of soda, but they still sell almost the same number of sodas per day because:
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