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In an economy in equilibrium,
a. production of the equilibrium quantity of aggregate output demanded generates enough income to purchase that output
b. aggregate expenditure equals real GDP
c. planned injection equals leakages
d. unintended inventory changes equal zero
e. all of the above
A private pilot wishes to insure his airplane for $200,000. The insurance company estimates that a total loss may occur with probability 0.002, a 50% loss with probability 0.01, and a 25% loss with probability
The mayor of Wappingers Falls was told by your Microeconomics class that gasoline has an inelastic demand and raising the price of an inelastic product raises revenue. The mayor wants to raise town revenues and decides to raise taxes
What monetary policies do you think caused the crisis 2. What were the effects of the policies implemented in reaction to the crisis 3. Do you think the solutions worked in the short term? In the long term? Fiscal policies 1. What fiscal ..
William is the owner of a small pizza shop and is thinking of increasing products and lowering costs. William pizza shop owns four ovens and the cost of the four ovens is $1,000. Each worker is paid $500 per week.
questionnbsp the table sets out the demand and supply schedules for chewing gum.pricecents per packquantity
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suppose you earn 14 an hour and every day you go to lunch at your favorite restaurant cafeacute excel where you spend
explain how the circular flow diagram relates to the current economic situation. using the circular flow diagram
At a meeting with the manager, the accountant suggested raising the price of the hamburgers to $4.00 to improve the profit margin (P – AC). The manager noted that this would lead to a decline in sales, which would increase average cost even further.
If the price elasticity of demand for good Y is – 0.75, when there is a 30 percent increase in price, we can conclude that quantity demanded
Firms like McDonalds and Wendy sell hamburgers, salads, and other products that are differentiated in nature. While numerous fast-food restaurants exist in most locations, the differentiated nature of the firm’s products permits them to charge prices..
1. the greatest portion of the budget of state and local governments is spent ona schools.b entitlements such as
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