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Apply the rule of 70 to solve the following problem. Real GDP per person in Mexico in 2005 was about $12,000 per person, while it was about $48,000 per person in the United States. If real GDP per person in Mexico grows at the rate of 10 percent per year, how long will it take Mexico's real GDP per person to reach the level that the United States was at in 2005? (Hint: How many times would Mexico's 2005 real GDP per person have to double to reach the United States' 2005 real GDP per person?)
Each demand curve must eventually hit the quantity axis because with limited incomes there is always a value so high that there is no demand for the good.
The output effect of an increase in the wage comes about because higher wages:
Interpret the coefficients of the regression model. Which independent variable has the strongest impact on the dependent variables
Explain the law of demand. Why does a demand curve slope downwards? Distinguish between a change in demand and a change in quantity demanded.
Assume that the demand curve is given by the following: p=100 and the supply curve is given by Q=p-25. If the government puts in place a tax of 10 that must be paid by the buyer the deadweight loss that results is equal to:
What effect will each of the following have on the supply of automobile tires?
Find consumer'sA utility maximizing combination of Qax and Qay. At this point compute the level of utility enjoyed by consumer A.
Many stocks and alternatives awarded or charged to CEOs are not indexed to either industry average or to market-wide averages
When developing short-run cost curves, it is supposed that all firms in perfect competition have the same cost curves and they all make identical short-run profits or losses.
What is the profit-maximizing price of carpets? What is the maximum amount of profit that the firm can earn selling carpets?
Calculate the number of physicians, per thousand population in Canada, from 2002 to 2005. What conclusions can be drawn about the physician coverage of Canada's opulation?
What provisions of ACA are intended to reduce or increase directly the quantity of healthcare consumed and what extent will these provisions have an effect on expenditures and to what extent will they affect health?
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