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In 1-2 pages, explain the law of diminishing marginal utility and give an example of an opportunity cost you pay personally and another example of an opportunity cost you believe the economy pays because of large military expenditures.
If the CPI was 110 last year and is 121 this year, what is this year’s rate of inflation? In contrast, suppose that the CPI was 110 last year and 108 this year. What is this year’s rate of inflation? What term do economics use to describe this second..
What are some of the top reasons of consumers reporting lower life satisfaction, even though their purchasing power has recently increased?
Many argue that breaking up a monopoly is a Pareto-efficient change. This interpretation cannot be so because breaking up a monopoly makes its owners (or shareholders) worse off. Do you agree or disagree.
adam smith rejected utility as a foundation for value. he illustrates this rejection in his famous diamonds and water
Illustrate what an identification and discussion of economic issues of special concern at the present time or in the future.
The loss to society resulting from a tax includes the
Elucidate why a system of marketable pollution permits leads to less costly pollution abatement and a higher concentration of polluted areas than a command-and-control system.
When the Economy is at the point of Full Employment, is the Unemployment Rate zero percent.
Role of Business Information Systems
By raising and lowering short-term interest rates to keep inflation moving at a steady pace, many central bankers and academics thought they had finally found a monetary policy solution to conquer booms and busts of the business cycle.
When the fed raises the federal funds rate, eventually there is.
What would happen to the demand curve in each of the following cases:
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