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Identify two (2) elastic and two (2) inelastic goods that you have purchased in the last month and explain the main reason why you identified them as such.
Two machines are being considered for improving a process. Machine A has a first costs of $300,000 and annual maintenance and operating costs (M&O) of $100,000 and it will res
Compare the two cases and summarize the effect of collateralization on the other terms of the loan. Does it increase or decrease the welfare of the borrower and the lender.
Describe the structure of the Federal Reserve System. What are the responsibilities and functions of each of the components of the Federal Reserve System? What are the instrum
Alexander and Vanessa Alexander and Vanessa benefit from scientific research. Alexander's marginal private benefit from such research is given by the equation P = 200 – Q, whe
What is predation? What is the Chicago school criticism of predation and what is the counterargument to this criticism? Give four non-predatory reasons as to why firms respond
If the prices of gold and other commodities increases how will this influence the value of rand. Explain how will a depreciation of the rand influence our exports and import
Where Q is the firm’s annual output, K is the firm’s capital input and L is the firm’s labor input. The price per unit of capital is pk = 10000 and the price per unit of labor
Use the IS-LM model to illustrate graphically the impact of the Pigou effect on the equilibrium level of income and interest rate during the Great Depression, when prices were
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