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Explain the concepts "preference", "preference order", and "basket of goods".
What are the ways or reasons under which ?scal de?cits can crowd out private expenditures in the determination of aggregate demand? In this discussion, do not forget the Ricardian equivalence theorem.
Movie theaters charge a variety of admission prices: one for matinees, another for evening showings; one for students, and another for adults, another for golden agers. Children under 12 often are admitted for a zero money price. Why don't theater..
Explain the influences on channel selection
Compare and contrasteconomic rational choice theory with sociological strain theory. Economicrational choice theory is the foundation of neoclassical micro andmacroeconomics . Sociological strain theory was originally formulated by RobertMerton in "S..
A country's long -run equilibrium price level has increased, but the position of its aggregate demand schedule has not changed. what has happened what specific factors might have accounted for this event
Consider the market for carbonated water and suppose that demand is given by D(p) = 100 – 5p There are only two firms producing carbonated water, each with the same constant unit cost c = 2. What are the equilibrium prices and quantities if the firms..
Suppose Macroland is currently producing 40 guns. What is the maximum number of units of butter Macroland can produce if it continues to produce 40 guns
Assuming that the utility's power bill of $1 million per year is reduced by 15% after installation of the surge protectors, what will be the future worth in year 4 of the uniform payments to the engineer? Use an interest rate of 10% per year.
What is poverty? How does the United States define who is poor? What is the current poverty rate? What are cash transfer programs and in-kind transfers?
Show that for production function Q = AKα Lβ the output elasticity of scale EQA is 1.
In terms of evaluating goods, services, and assets that are traded between countries throughout the world, the overall measurement of these activities is expressed as the balance of payments. The largest component of a country's balance of payments i..
Determine the trade balance between the U.S. and China for the most recent five year period. Illustrate the trend over this period with a graph of the data. Accurately determined the trade balance between China and the U.S. for the most recent five y..
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