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According to your text, the intention of the framers of our Constitution was for the members of Congress to act in a spirit of compromise. In this way, resulting legislation would reflect the interests of the many rather than those of a particular faction. In practice, what are the dangers and inefficiencies when party unity and partisanship cause Congress to become deadlocked and unable to agree upon action? Provide examples from recent history.
Suppose an excise tax of $2.00 per unit is placed on the sale of this good. What will the post-tax equilibrium buyers' price, sellers' price, and quantity be?
Discuss and explain the components of GDP in the output approach and in income approach, NDP, NI, PI, and DI.
What interest rate would the bank have to charge to earn an expected rate of return on its loan equal to the T-bill rate - what would this indicate about investors expectations of future short term interest rates?
karls preferences over hamburger (h) and beer (b) are described by the utility function U(h,b)=min(2h,3b). his monthly income is M dollars and he only buys these two goods out of his income. denote the price of hamburgers by Ph and beer by Pb.
Year Nominal GDP(in billions) GDP Deflator(base year 2005) 2009 $14,256 109.8 1999 $9,353 86.8 1. What was the growth rate of nominal GDP between 1999 and 2009? Round your answer to one decimal place.
Assume the price of the futures contract changes as shown in the following table. Enter the relevant information into the table. Show your calculations.
If the market price is below shut-down, regardless of fixed costs, explain why the firm should shut down.
Differentiate between a change in quantity demanded and a change in demand. In the three months before a $1 per pack cigarette tax took effect in Alaska, smokers bought 175 million more cigarettes than during the same period a year earlier.
A. derive the supply schedule from the following supply function: QS=10P B. Derive the supply schedule from the following supply function; QS' = 20 + 10P C. On the same graph, plot the supply schedule of part A and label it S and the supply curve of ..
a) If the Fed requires banks to hold 5% of deposits as reserves, how much in excess reserves does First national now hold b) Assume that all other banks hold only the required amount of reserves.
Calculate the price relative for widgets for Company Y for 2011 with 2010 as the base year.
A 2 percent increase in the price of milk causes a 4 percent reduction in the quantity demanded of chocolate syrup. What is the cross-price of milk elasticity of demand for chocolate syrup with respect to the price of milk? Are the two goods compl..
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