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Some states are required to balance their budgets at all times. When a recession starts, is this requirement stabilizing or destabilizing? Explain your answer.
If the price of good A decreases by 5% and the quantity demanded of good B increases 10.2%, find the cross price elasticity of demand. Are the goods substitutes or complements
Define Mercantilism, Pick a country and talk about the products they import and export with the U.S.A. Also talk about the composition of trade with relation of abundance of
Compare and contrast the difference between nominal and real GDP. Explain the challenges that an economy will be facing if GDP is constantly changing for the various stakehold
In the economy of Qonos in 2067 exports were $670, GDP was $8,652, imports were $1,281, investment was $1,544 and consumption was $2,325. What was Qonos's government spending
Imagine a community with only one insurance company that provides coverage to everyone in that community (a universal insurer). Currently, the payer does not pay anything for
The maximum price that a few of the consumers are willing to pay is $0.20 per pound of cheese, and the price floor is set at $0.17 per pound. With the price floor at $0.17 per
After getting her first job, a college graduate wants to begin saving money so she can pay cash for a new car. She wants to save enough each month to have $24,000 at the end o
A firm, which is operating in the conditions of perfect competition, produces good Y. The production function of this firm is y(x) = 20x1/2 , where y denotes the quantity of o
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