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1.The production possibilities curve is an important model of how much an economy can produce given resources and technology.a. What characteristic of the economy causes the production possibilities curve to bow outward. Explain.
2. The Circular Flow diagram is model of how the economy works. Explain how the model would change if the following events occurred:a. Households increase savings.b. Drastic spending cuts are implemented by the government.
3. looking at types of economic systems, which one closely resembles the US economy. Explain and support your answer.
Identify and describe the five sources of growth? Mention and explain four categories (types) of policies designed to promote growth.
Question based on Laffer Curve : Tax Rate and Tax Revenue, Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?
Consider the following Solow model of growth. Both population and work force grow at the rate of n=1% per year in a closed economy.
Compute the 10-year growth rate forecast utilizing the constant growth model with annual compounding, and the constant growth model with continuous compounding for each occupation.
Describe the balance of fixed and variable costs for the organization. How can the organization use technology to change this balance for an advantage.
Illustrate what would shoppers see when they shopped in Wal-Mart and the other "big box" stores that sell so many imported items
Characterize each of the following statements as true or false, and explain your answer.
Explain how do you balance human suffering with the economic realities.
Compute the trucks net book value at the end of its third year of use under each depreciation method.
a powerful leading indicator of overall future economic activity. Elucidate why is it a more meaningful indictor than housing starts.
Describe how a correctional officer's pay is determined and how the salary is structured. Discuss what your chosen state can do to increase the supply of correctional officers.
Discuss what has occurred to change the demand for, or the supply of, the good or service, and market prices of those products or services.
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