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As an economist, you have been asked to address a meeting of a group of international professionals to explain the differences between microeconomics and macroeconomics and to provide real-world examples.
the main differences between microeconomics and macroeconomicsan example of each phenomenona description of a microeconomic decision you made, and the factors that contributed to your decisiona description of a specific macroeconomic phenomenon or event and how it has impacted you
Indicate whether every of the following statements is true or false, and explain why. If a statement is false or true, please give a full explanation as to why that statement is correct or not.
Elucidate why increases in the price of a labor-intensive good lead to proportionally greater increases in the wage rate in a labor intensive country.
Why is an increase in the number of varieties of a good regarded as a gain from trade? Can you think of economic disadvantages associated with greater product variety? Explain. Is the distinction between "intra-industry trade" and "inter industry t..
Illustrate what are the basic provisions of a collective bargaining agreement. Explain the differences between meditation and arbitration.
On the basis of historical data, Richard Tennant has concluded, "The consumption of cigarettes is [relatively] insensitive to changes in price. In contrast, the demand for individual brands is highly elastic in its response to p..
Illustrate this strategic interaction using a game in normal form and has WallMart a strictly dominant strategy? Has it a strictly dominated strategy? Clearly explain.
Elucidate the economic cost of most international trade less than the economic benefit of that trade for both the companies and countries.
How many economic activities can be seen in this particular market? Which specific goods/services are related with these economic activities?
A child of a wealthy family is deciding either to work or not work also mooch off her parents. Asume that she is offered a job which pays.
Elucidate how do Keynesian and Real Business Cycle economists differ on the right response to Japanese stagnation.
What value added means is not a higher price for certain goods. Value added means adding value to a raw product at its present stage of production and possibly taking that product to the next stage of production.
Over the years, Janjigian Company stockholders have provided $15,250 of capital, part when they bought new issues of stock and part when they allowed management to retain some of the company's earnings.
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