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Positive vs normative statements
Identify whether the following statements are positive or normative economic statements, and explain why you categorized them in that way.a. "The best way to improve the economic situation would be to decrease the unemployment rate by decreasing the interest rate."b. "The government increased taxes in order to decrease the budget deficit and improve economic growth."c. "The tax on business decreased production in some industries in the short run."d. "The government should pursue a low-inflation policy by restraining the growth of the money supply."
Compute the change in total income which is P times Q moving
The CEO of a major automaker overheard one of its division managers make the following statement regarding the firms's production plans:
Explain how many hours of labor should XYZ hire each day to maximize its profits.
The ten firms have banded together to form a cartel, and the cartel sets the monopoly price. The cartel agreement limits each firm to an output of one-tenth of the total amount demanded at the cartel price.
Analyze the factors that influence the banks desired excess reserve ratio, r e . What would happen to the magnitude of r e if:
Evaluate the following: The laws of supply and demand cannot apply to the labor market because labor is not a commodity to be bought and sold like machines.
Looking to raise profitability in perfectly competitive marketplace. How to efficiently plan production?
Illustrate what was the industry's method for determining that there was an inequality.
Elucidate economic school of thought does Obama base his economic prescriptions? Detractors accuse him of some leaning towards socialism. However, Obamanomics is simply "Keynesian Economics".
Show such data graphically. Upon what specific assumptions is this production possibilities curve based? If the economy is at point C, what is the cost of one more automobile? Of one more forklift? Describe how the production possibi..
Outline the extent to that you expect regional economic integration to occur in Europe, Asia.
Explain how much should Jet Blue charge for a Business Class ticket.
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