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Suppose the market for cantaloupes is unregulated. That is, cantaloupe prices are free to adjust based on the forces of supply and demand.
If a shortage exists in the cantaloupe market, then the current price must be (higher or lower)? than the equilibrium price. For the market to reach equilibrium, you would expect (persistent excess demand, seller to offer lower prices, or buyers to offer higher prices)?
Suppose you explain the concept of an inflation tax to a friend. You correctly tell them, "When a government prints money to cover its expenditures instead of taxing and borrowing, it causes inflation. An inflation tax is simply the erosion of the va..
Brad will graduate next year. When he begins working, he plans to deposit $3,500 at the end of each year into a retirement account that pays 5% interest. How much will be in his account after 40 deposits?
Do these public goods conform to the law of demand. For which public supplies is demand price elastic.
Briefly describe cost-benefit analysis. Demonstrate understanding by applying the concept to an assessment of an immunization program.
You have been asked by your supervisor to evaluate a new proposal designed to cut costs. Under the plan, workers would be paid a fixed wage of $8 per hour.
Adjust the benefit or cost curve or both to illustrate the private also social benefits also costs in the market for electricity.
q.your complete portfolio is 400000 and is comprised of a risk free asset that pays 5 and a risky asset that has an
Consider the following distribution of income in a 12 person economy, with the modern urban wage=3, the traditional rural income=1 and the informal urban wage = 2: (1,2,3,1,2,3,1,2,31,2,1). the poverty line is at 1.3. What is the level of absolute po..
What is neutral technical? What is non-neutral technical change? Suggest a specific example of nonneutral technical change that occurred in the US. In England until 1950, many homes were heated by burning coal in a fireplace; now most homes are heate..
If the economy was experiencing a severe recession, which of the following combinations of monetary and fiscal policy actions would be most appropriate? Many years ago, the traditional mortgage loan structure specified. The "interest-only" mortgage t..
How does it affect level of investment and interest rates. How does it affect individual consumer. Give at least three examples in your response.
The North American Free Trade Agreement (NAFTA) went into effect on January 1, 1994. This sweeping agreement is designed to open the borders separating Canada, Mexico, and the United States to the free exchange of goods and services.
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