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Given that there is a fixed supply of land in the world, what implications can you draw from the law of diminishing returns about the effects of an increase in world population for food output per head?
What is one significant consequence of fractional reserve banking Banks are vulnerable to "panics" or "bank runs." Banks can only lend an amount equal to its deposits. Banks hold a portion of their deposits in gold. Banks can serve the withdrawals..
Explain what each of these economic indicators measures and what the significance of the current data is for the economy and increases in resources or improvements in technology will tend to cause a society's production possibilities curve
Suppose that the tax rate on the first $10,000 income is 0; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $30,000; and 40 percent on any income over $80,000.Family A has an income of $40,000 and Family B has..
Carson Company is considering a private placement of equity with Secura Insurance Company. a) Explain the interaction between Carson Company and Secura. How will Secura serve Carson's needs, and how will Carson serve Secura's needs
Are you a Classical or Keynesian economist? Pick a perspective and defend.
Describe how a nurse's pay is determined and how the salary is structured. Discuss what your chosen state can do to increase the supply of nurses.
What is your marginal revenue and marginal cost functions? To maximize profits, how much should you produce at plant 1? At plant 2? What is the price that maximizes profits?
The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -2. The firm's marginal cost is constant at $30 per unit. a. Express the firm's marginal revenue as a function of its price. MR = x P b..
Find the change in consumer surplus, producer surplus and total surplus when Vanland decides to open their economy to trade.
Welfare analysis: Basic concepts and Individual demand and consumer surplus
Describe the mission of the World Trade Organization. How effective are they in pursuing this mission What do you see as the future outlook for the WTO? Be sure to consider both challenges and opportunities.
Identify the right fiscal policy that should be followed: contractionary or expansionary - explain why this fiscal policy should be used.
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