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What are some of the major opportunities and threats that the US faces as the world becomes one global marketplace? How do we take advantage of them and how do we deal with the downsides?
Lauren's salary decreases from $34,000 to $30,000. She decides to reduce the number of outfits she purchases each year from 20 to 19. Use the midpoint method to calculate the income elasticity of demand for new outfits.
How many fish should a commercial fisher try to catch in a day? Should he catch as many as possible or return to dock before filling the boat with fish? Under what economic circumstances should he not even take the boat out? Is Apple Computer a perfe..
q1. when the federal government decreases the individual and corporate income tax rates?q2. between sweezy oligopoly
To what extent is to greek proverb "Happiness is the full utilization of your capacities along lines of excellence." similar and different from the traditional definition of economics.
Describe the Stolper-samuelson theory of trade. How does it differ from the factor endowment model? What are its predicted effects on wage-inequality in (a) industrialized countries that are capital abundant and (b) developing countries that are labo..
How are the forecasts likely to be inaccurate? What do you think is driving inaccuracy? How might this problem be solved?
The Short Run total cost curve of a firm in a hypothetical market is given by. What is the shut down price? What is the break-even point of the firm? What is the equation for the firm’s short run supply schedule?
A university has a fixed number of parking spaces for students on campus. They are currently sold at a price that clears the market. Suppose there is a proposal that the price should be lowered and a lottery held to determine who may park on campus. ..
When most consumers and firms reduce spending only because they expect other consumers and firms to reduce spending, and a recession results, A. a real-business-downturn has occurred. B. a self-correction has occurred. C. a coordination failure has o..
If there are no fixed costs of production, the q that solves the firm’s first-order condition is
The U.S. government pays an economist at the U.S. Department of Commerce $50,000 in salary in 2006. The economist then retires. In 2007, the government pays him $30,000 in retirement benefits. The 2006 payment is included in 2006 GDP as government pu..
Suppose the market for operating systems were perfectly competitive. What price would be charged? How many would be sold? Would the firms in this industry be profitable?
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