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Institutional economics and neo-classical economics. Off-hand, which of the two seems like a more sensible approach? What are some of the elements you agree or disagree with?
Why does international trade occur What does it mean to run a deficit in the merchandise trade balance Distinguish between a tariff and a quota. Who benefits from and who is harmed by such restrictions on imports
Let the utility function be U = log(x) - l, where l is labour and x is consumption. Find the level of labour supply if the wage rate w=10.
2.The demand for a luxury good whose purchase would exhaust a big portion of one's income is: a.perfectly price inelastic b.perfectly price elastic c.relatively price inelastic d. relatively price elastic
Antitrust laws attempt to prevent monopolies from A. imposing large welfare losses on society B. producing too much output and flooding the market C. reducing barriers to entry D. pricing products too low. A monopolistically competitive firm is cha..
If the total issues in an economy are Rs 4,50,000, the financial interrelations ratio is 1.17, and the new issue ratio is 0.72, what will be the net capital formation in the economy?
by Richard Easterlin, the level of per capita income achieved in the South after the Civil War remained considerably below that in the rest of the nation as late as 1930. Evaluate the hypotheses that have been suggested to explain the poor econo..
If the economy currently has a frictional unemployment rate of 2 percent, structural unemployment of 2 percent, seasonal unemployment of 0.5 percent, and cyclical unemployment of 2 percent, what is the natural rate of unemployment? Where is the ec..
a manufacturer is considering purchasing equipment, which will have the following financial effects: Year Disbursements Receipts If money is worth 6%, should he invest in the equipment?
Explain the relationship between Cola Magic and Lemon Heaven Soda and explain what affect a 10% increase in the income of the targetmarket would be on the demand for the Cola Magic?
Suppose the government misjudges the natural rate of unemployment to be much lower than it actually is, and thus undertakes expansionary fiscal and monetary policies to try to achieve the lower rate.
Gina Picaretto is production manager at the Rich Manufacturing Company. Each year her unit buys up to 100,000 machine parts from Bhagat Incorpo- rated. The contract specifies that Rich will pay Bhagat its production costs plus a $5 markup (cost- p..
A monopolist is currently producing a level of output where Price = $110; Marginal Revenue = $10; Quantity = 100; Total Cost = $15,000; Marginal Cost = $10; Total Fixed Cost = $4,000.To maximize profits in the short-run, the monopolist should do.
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