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Keynesian economics and neoclassical economics have been challenging, attacking and refuting one another ever since his General Theory from 1936.
(a) outlines the basic dispute between them and
(b) explains why so old and often repeated debate continues to be a major concern of the mainstream economics profession.
You are manager of Bonnie=s Unknown Lexicon Lists, Silly Hat Incorporation Tapestry Company. A company dedicated to making tapestry and upholstery fabric. Determine profit maximizing quantity of upholstery.
Explain why relatively flat as opposite relatively steep labor demand curves are more consistent with the empirical observation that there are relatively minor changes in the real wage rate over the course of the business cycle.
Which of the following would not cause any kind of an outward shift of an nation's production possibilities frontier (PPF)?
What are the limits to U.S. long-term economic growth? Is there anything that our government can do to address these limits, or would it be a bad idea to try?
If the firm currently has 10 units of capital (K) and 10 units of labor (L), then calculate the Marginal Rate of Technical Substitution (MRTSLK).
Describe the evolution of strategic selling. What are the four broad strategic areas in the Strategic Selling Model? How do value-added selling strategies enhance personal selling?
For a new study conducted by a fitness magazine, 240 females were randomly selected. For each, the mean daily calorie consumption
Show graphically what the supply and demand of cocaine looks like, and how the curves would shift if legalized. Discuss the importance of the change.
A monopsonist faces a labor supply curve given by LS = −300 + 0.01w , where w is the annual salary. What is the lowest salary the firm can pay yet still induce one worker to want to work for the firm? What is lowest salary the firm must pay to induce..
Anyone who has ever eaten crabs from the Chesapeake Bay knows that the quality of crab cakes declines with the square of the distance from the Bay. Thus, one should never order crab cakes at Red Lobster, for example. Unfortunately, crabs have been ov..
Suppose a union that represents some but not all of the employees in an industry is considering a strong push for increased pay for their members during the upcoming contract negotiations. However, they are concerned about the possibility that the co..
Employees bear the cost and earn the returns on investments in general training and employers bear the cost and earn the return on specific training. Is this statement true, false, or uncertain? Give an economic justification for your answer.
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