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Entitlement programs affect the economy in many ways, yet they are considered by many as not being managed efficiently. Explain how you would improve some of these programs to ensure their effectiveness and ease of management.
regarding the four attributes of perfect competition (many small firms, freedom of entry, standardized product, and perfect information): a) which is primarily responsible for the fact that the demand curve of a perfectly competitive firm is horiz..
What are some of the cost implications of industrialization of family farms What are implications when the government gets involved What are implications for future firm size in the market as a result of the recent drought
Suppose that upon entering the European Union (EU), it is discovered that the cost of automobile production in Poland is €14,000 while it is €20,000 in Germany. Suppose that the EU, which has a customs union, has an X percent tariff on automobiles..
What will happen to wage rates in country A and country B because of the migration of labor from country B to country A and what will happen to domestic output in country A and country B after immigration?
If nominal wages and productivity increase by the same amount throughout the macroeconomy, would you expect aggregate supply to increase, decrease, or stay the same? What if productivity increases more than nominal wages
Determine to the extent possible the relative market shares of these firms. Discuss the degree of concentration in the industry using CR4, other n-firm concentration ratios, H-H indices, etc.
Compute real GDP for 2004 and 2005 using 2004 prices. By what percent did real GDP grow? Compute the value of the price index for GDP for 2005 using 2004 as the base year. By what percent did prices increase?
For every penny that the price of gasoline goes up, the U.S Postal (USPS) service experiences a monthly fuel cost increase of $8 million. State what assumptions you need to make to answer this question
The President of US is suggesting increased spending for a missile defense system and also proposing a major long term tax cut. Provide some predictions of possible outcomes for the federal budget categories,
Beer and pizza are compliments because they are often enjoyed together. When the price of beer rises, what happens to the supply, demand, quantity supplies, quantity demanded, and the price in the market for pizza.
What level of output will these firms produce in the short run and are these firms operating under perfect or imperfect competition?
What is the size of the firm's profit. Suppose that the allocatively efficient output level in long-run equilibrium is 200 meals. Is the deadweight loss for this firm greater than or less than $60?
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