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Explain the sense in which the Fed is independent of the federal government. How independent is the Fed in reality? What is your opinion about the importance of the Fed"s independence for the U.S. economy?
Suppose the market for ice cream cones is made up of three consumers:: Josh,Daisuke, and Tim. Use the information in the following table to construct the market demand curve for ice cream cones.
Discuss how the requirement of a goods and the availability of substitutions impact price elasticity.
1)When people must pay higher taxes on their wage earnings, it reduces their incentive to work is a positive statement. 2) We should lover taxes to encourage more work is a positive statement. 3) Economics cannot always be used to completely decide w..
There is a supply and a demand for most goods. The result is a market clearing equilibrium price. Firms many times supply a certain amount of the hot or must have product to the market.
United States has absolute advantage over many countries in production of most goods and services. Yet, the country is running the record trade deficit year after year. The current trade deficit is about six percent of the country's GDP. Is it a ..
I recently purchased skim milk instead of soy milk because skim milk was less expensive. Describe how the law of demand affected my purchase and discuss new equilibrium price and quantity.
This solution shows graphically what could happens to quantity sold when a price ceiling or a price floor is imposed.
Compute producer surplus, how much is the difference between the producer surplus and profit in this case
If the price changes above occurred for all goods across the economy during the four year period, elucidate how nominal GDP and real GDP would differ.
How can the market "fail" If indeed it can, outline the ways the government can either reduce or eliminate such possibilities. Then why are some politicians or heads of government want almost all public needs met through the market mechanism
If it is good for comunity for people to own their own homes, home ownership should be subsidised with special tax advantages or subsidies.
Which of the following is true for perfect competition, monopolistic competition, and monopoly?
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