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If indifference curves are convex to the origin, then a. More is preferred to less b. Willingness to trade one good for the other is constant regardless of how much you have of each good c. Averages are preferred to extremes d. None of the above
Why do more than 45 million Americans not have Health Insurance? Argue whether or not you feel that Health Insurance today should be either Public or Insurance driven? Discuss with two other students your reasoning.
Elucidate how if at all among the following events affects the location of a country's production possibilities curve.
Economists have typically thought of the money supply as an exogenous variable; however, many would argue that it really should be treated as an endogenous variable. What’s the di?erence? Also, what does endogenous money mean for the Fed’s ability to..
Pick a good or service and illustrate its market with supply and demand curves. Explain what each curve represents and tell what (specifically) would shift each of the curves. A properly-labeled diagram of the supply and demand curves.
A firm’s isoquant is given by: q = LK. Total cost is $200 and WL = WK =$1. Mathematically solve for the equilibrium levels of L, K, and q. Show all work. Graphically present your findings. Label L, K, q, equilibrium, and endpoints to the total cos..
In January 2010, the price of gasoline was $2.70 a gallon. By spring 2010, the price had increased to $3.00 a gallon. Assume that there were no changes in average income, population, or any other influence on buying plans. Explain how the rise in the..
Suppose a candidate who runs on a platform of soak the rich wins the 2012 presidential election. After being elected, he or she persuades Congress to raise the top marginal tax rate on the federal personal income tax to 65%.
Which of the following represents the equation for the Average Cost (AC)?
As we have seen, some firms prosper by expanding during the recessions. What risks do firms take when they pursue this strategy? Are there circumstances in particular industries under which a more cautious approach might be advisable?
Go to the Bureau of Labor Statistics website, www.bls.gov/news.release/empsit.toc.htm, and click on "Employment Situation Summary"
Suppose there is a decline in marginal costs for one member of a cartel. What impact will this have on the incentive of that firm to cheat on the cartel agreement? Explain.
After years of civil war, the Republic of South Sudan must rebuild its infrastructure from scratch. Its government is eager to encourage infrastructure investment by private investors. South Sudan has achieved greater productivity for each unit of ca..
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