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"Last year, the United States imported approximately $100 billion worth of oil. Many people believe we should simply stop importing all oil (about half of our domestic consumption). One argument in favor of this is that this oil is only about 1% of our $10 trillion economy. Thus, it is argued, it would therefore be a small sacrifice to eliminate entirely our "dependence" on foreign oil, since the economy grows by over $100 billion each year, and therefore eliminating foreign oil would reduce our standard of living only to what it was a year or two ago. No big deal! Evaluate this argument."
What are the marginal rates of substitution for each person and what is the formula for the contract curve and draw an Edgeworth box, labeling carefully, and indicate the contract curve.
Many retail companies use mark up pricing? Setting price some percentage above variable cost (such as 50% above cost).
How is net national product (NNP) calculated a.Saving is subtracted from the total income of a nation's citizens. b.Saving is subtracted from the total income of a nation's permanent residents. c. Depreciation losses are subtracted from the total ..
The Wall Street Journal discusses a trend among some large US Corporation to base the compensation of outside members of their boards of directors partly on the performance of the corporation.
John has been in the habit of mowing Willa's lawn each week for $20. John"s opportunity cost is $15, and Willa would be wlling to pay $25 to have her lawn mowed.
Explain why hyperinflation has such a devastating impact n economies. Explain what it takes to stop hyperinflation Describe the three types of unemployment. What types of government programs would be most effective in combating each type of unempl..
In the 1960's, the San Francisco City Government physically moved several houses from the Hayes Valley/Fillmore district to clear way for other development. What government power was the SF City Government invoking, and please discuss the concept..
One advantage of forming a business as a corporation is: the business is subject to less taxes and fewer government regulations limited liability management can make quick decisions individual stockholders can influence daily business
Determine the trade volume necessary for PBI to reach a target return of $7,500 per month for a typical office. Determine and interpret the elasticity of cost with respect to output at the trade volume found in part A.
without knowly the demand function can we say how much broccoli each firm produces in long run equilibrium? if so under which assumption. if not explain why?
Defines and explains a closed system and provides an example and explains the inner and outer flows of a closed system.
A) What are alternative approaches to measuring poverty and inequality B) Describe the long-term trends in inequality in the United States using the available measures C) What are possible explanations for these long-term trends.
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