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An economy in which a central authority draws up a plan that establishes what will be produced, how, and when, sets production goals, and makes rules for distribution is A. a modern socialist economy. B. a laissez-faire economy. C. a command or traditional socialist economy. D. a capitalist economy
Describe racial profiling and racially biased policing. Explain why these phenomena have become significant issues in policing. What steps have been taken to eliminate racial
Assume that the train ticket price is $100 and 1000 passengers use train per day. 2000 passengers use buses and 5000 passengers use their own car. What can you say about the e
Large number of independent loan prospects are available, each paying return of $16 on $100 with probability of 1/2 and 1/2 of $4 return. Each saver in economy derives happine
In Solow’s growth model, illustrate using a diagram what will happen if population growth rate is reduced? What will happen to GDP? GDP per capita? Will GDP per capita grow at
The single price monopoly faces a demand curve of p=90-Q and a constant marginal (and average) cost of m=$30. Find the profit maximizing quantity (or price) using math. Determ
Suppose that households in the US switched some of their wealth out of their checking accounts and into short term bank CD's. If banks use all excess reserves to support incre
A new OSHA rule requires that welders be given 2 hour break for every 2 hours of work to prevent carpel tunnel syndrome. Using production theory, explain what will happen to
Alex is willing to buy the last ticket to the Billy Bragg concert for $15, while Jake is willing to pay $25. Alex is first in line and buys a ticket for $15. Alex could sell h
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