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Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers.
Who has the comparative advantage in the production of shirts? What about for computers?
Illustrate what principles should guide policy makers. Should they cut spending and raise taxes to reduce the national debt over time. Or does the level of the national debt really matter.
Price Sensitivity/Price discrimination A physical therapy treatment can use a high tech machine to massage patients or a certified massage therapist. If the cost of the machine per unit of service is $100 and the cost of the therapist per unit of ser..
The basic idea of Schumpeterian Business Cycles is that new technologies require creative destruction but will yield positive growth. These two opposing forces have impacts onto the real economy at different times, which will create fluctuations arou..
q1. immediately following the attack on the united states on september 11 2001 the stock plunged and many observers
Illustrate what conclusions can you draw about this period by comparing this cycle to previous business cycles.
Why is the judiciary regarded as the “least dangerous” branch of government? Citing examples of its powers and its place in history, do you agree or disagree with this assessment? Should nine unelected justices have the authority to nullify state an..
Consider the marginal cost for a product like Microsoft Windows 8. How does the marginal cost for a product like this differ from a product like automobiles? What relevance might there be to this difference?
3.analyse the two following situations for forms in competitive markets a suppose tha tc 100 15q where tc is total cost
Describe atleast 4 ways in which a firm can limit a worker's shirking. Ground your answer in an explicit theoretical framework(that you clearly state) that explains worker shirking behaviour.
Illustrate what policies do governments adopt to redistribute income and how do those policies help the country's economic growth.
Why is aggregate demand curve downward sloping? (Interest-rate effect, foreign purchases effect and real-balances effect be able to explain logic behind each of these) What are the determinants (shifters) of AD curve. Be able to determine the equilib..
If government imposes a $5 specific tax to be collected from sellers, what is the price consumers will pay. Explain how much tax revenue is collected.
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