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Studies indicate that the price elasticity of demand for cigarettes is about -0.4.If a pack of cigarettes currently costs $2.0 and the government wants to reduce smoking by 20%, by how much should it increase the price?
A truck powered by a diesel engine working at a 100 percent load factor is operated at a mine. If fuel consumption for this truck is 0.3 l/kW
What nation did you choose and why does this county interest you. What are some facts about this country.
Explain International Monetary System
The following events have their initial impact on which of the following: aggregated demand, short-run aggrevated supply, long-run aggregated supply, or both short-run and long-run aggregated supply. Do the curves shift to the right or left.
Suppose that in the market for comic book illustrators the substitution effect dominates the income effect While visiting Comic Con.
The energy Department estimates that domestic demand for natural gas will grow by more than 40 percent between now and 2025. Distinguish between a demand function and a demand curve.
New Light Inc. has just developed a solar panel capable of generating 200% more electricity than any solar panel currently on the marketplace.
Five years ago, to respond to cost-cutting pressure during a weak economy, your company decided to close five sales offices employing five people each. Currently your company employs independent sales agents who earn a 2.5% commission on all sales..
Explain how each of the following would affect the equilibrium real wage, and equilibrium level of employment. a. A relaxation of immigration laws which leads to a large increase in the number of immigrants entering the country.
In late June the Fed lowered its federal funds rate target from 1.25 percent to 1 percent. However between mid June and early August the yield on longer term 10 year Treasury notes rose from 3.1% to over 4.3%.
Explain how would each of the following theories of comparative advantage explain the fact that the United States exports computers.
If the price of a good decreases, the substitution effect shows the increase in the quantity of the good demanded, holding income constant.
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