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1. Consider the ways in which the differences among state and federal laws on marijuana show both the strengths and weaknesses of a federal system. On this issue, do you think it's better to continue to allow states to set their own policies regarding marijuana, or should the federal government step in and resolve the issue one way or another? Explain your reasoning.
2. In situations where federal and state laws differ, what do you think is the best way to resolve the differences?
Assume that in year 1 an economy produces 1000 units of output and they sell for $100 a unit, on average. In year 2, the economy produces the same 1000 units of output, and sells it for $110 a unit, on average. Use year 1 prices to calculate real GDP..
Assuming that wheat and barley both sell for $1, and income is $20, compute the price elasticity, cross price elasticity and income elasticity for wheat."
You would like to have $ 50000 in 15 years. To accumulate this amount you plan to deposit each year an equal amount in the bank, which will earn 7 percent interest compounded annually. Your first payment will be made at the end of the year. How much ..
Explain why each of the following statements is True, False, or Uncertain according to economic principles. Use diagrams where appropriate. Unsupported answers will receive no marks. It is the explanation that is important. The Ontario government now..
What did the Federal Reserve do during the financial crisis of 2008 and 2009? How did the recent financial crisis affect the financial services industry? What are some of the major provisions of the Wall Street Reform and Consumer Protection Act?
Elucidate the cost of producing an additional washing machine when 50 cars are being produced. when 150 cars are being produced.
. On a particular day, the spot exchange rate for the Thai baht was 31.80 (bt/$). On the same day, the 3-month forward exchange rate for the baht was 32.50. Was the Thai baht trading at premium or discount for the Thai baht?
The net result was the Japan's automobile industry improved its productivity throughout this period relative to the US, which generally just kept up with inflation due to its already high rate of accumulated experience also relatively slow growth.
How do fixed costs play a role in your analysis? What is the difference between shutting down and going out of business?
Write a paper about DETERMINANTS OF DEMAND AND SUPPLY. Briefly summarize the purpose of your paper by introducing the case (the situation) that you are analyzing and studying, and what are you trying to achieve from your study.
Assume that your household gets a machine that cost Lesley provides you with food. Illustrate what would that do to your labor supply.
In planning for your retirement, you would like to withdraw $50,000 per year for 20 years. The first withdrawal will occur 20 years from today. What amount must you invest today if your return is 10% per year? What amount must you invest today if you..
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