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Q1. In the Undercover Economist, Harford discusses Greenbelts. What is a Greenbelt and how does it affect demand and/or supply? What are other examples of "greenbelts"?
Q2. Government data that computes averages, such as the consumer price index, are applicable to everyone. For example, the inflation rate since this time last year is reported to be 1.7%. Therefore, elderly individuals who complain about the increasing cost of their medications have no real complaint. Discuss.
What would happen if suppliers charge less than the equilibrium price for your good or service.
Supposes cost of consumer market basket rose from $200 in base year to $225 in current year. Calculate CPI in current year and percentage change in prices between base year and current year.
If firm A produces 100 record albums and 100 video cassettes, how might firm A be made better off by shifting its output mix. Explain your reasonings clearly.
If fixed costs increase to $1200, what will happen to equilibrium price and quantity.
According to national income accounts, investment always equals savings in a closed economy. only in equlibrium would savings be equal to investment. hence, we are always in equlibrium. true or false.
Explain Carver Memorial Hospital's surgeons have a new procedure that they think will decrease the time.
Population growth in developing nations has proceeded at unprecedented rates ower the past few decades.
Interpret these results. Is profit per employee much sensitive to industry-specific or firm-specific factors for this sample of giant corporations.
Illustrate what is the reason the productivity also real incomes of workers in the industrially advanced economies have risen historically partly.
Is the demand for this good price elastic or price inelastic? Justify your classification by talking about the determinants of elasticity as they apply to this product.
Would you prefer the lower goal or the higher payment? d.Instead of lowering the goal, suppose the compensation from failing to meet the goal was increased by $2,500. Would you prefer the lower goal or the higher payment?
If the American auto companies make a breakthroufh in automobile technology and are able to produce a car that gets 70 miles to the gallon, what will happen to the value of the dollar? Use the demand-supply model of the dollar to explain.
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