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As we all also know, there are people who cannot have children who want to adopt, and there are pregnant women who for various reasons want to (or might be willing to) put their babies up for adoption. What do you think the government should do about the possibility of potential adoptive parents paying the birth mother directly for the babies they adopt - allow it, regulate it, or prohibit it? Give your reasons.
How will each of the following changes in demand or supply affect equilibrium price and equilibrium quantity in a competitive market, that is do price & quantity increase, fall, remain unchanged,
Most customer oppose these laws because they find Sunday afternoon a good time to shop, however retail trade associations support these laws.
Last year, Pat and Chris occupied separate apartments. Each consumed 400 gallons of hot water monthly.
Compute the cross-price elasticity of demand between goods X and Y at the given prices.
Explain how would the edgeworth box change. How would the production possibilities frontier change as a result
Elucidate why the general level of wages in high in the United States and other industrially advanced countries.
Suppose that there is an "inflation scare," that is, suppose market participants increase their expectations of future inflation.
Suppose a country's nominal GDP is $600 billion, government expenditures less debt services are $145 billion, and revenue is $160 billion.
Illustrate what effect a contractionary fiscal policy have on the price level and real GDP.
Assume the new leadership in Congress decides to repeal some of the tax breaks granted to large businesses during the past several years.
What would you give an example of a microeconomic decision you've made at work or home? What factors contributed to making that decision.
Expalin why might a firm making a large economic profit from its existing product employ a fast-second strategy in relationship to new or improved products.
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