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What is globalization (please define it both as a process and outcome)? What factors can you identify in explaining why globalization occurred? How do you assess its impact upon both rich countries and poor ones, in particular, the issue of inequality? How do you explain the emergence of an anti-globalization movement? What made it so controversial?
Suppose an individual’s utility is expressed as U=x^(1/2)y^(1/2)and their constraint is represented by the following: 2x+3y=B=100. What level of x and y should the individual consume to maximize utility? What is utility at the optimal level of consum..
one of your econ classmates is puzzled by how the wealth effect is a reason for not only the downward sloping nature of aggregate demand (AD) schedule, but also for shifts in the AD curve. Briefly offer an ezplaination that can resolve that dilems..
Illustrate what will be the new equilibrium price, if the government puts a 15 cent per tax on the candy.
q1. law of diminishing marginal utility some restaurants offer all you can eat meals. explain how is this practice
Suppose the airline industry consists of two firms, A and B. These two firms engage in Cournot competition with each other over a certain route for which inverse demand is P(Q) = 1000 − Q with Q = qA + qB. Solve for the Cournot equilibrium price. Sup..
Suppose the United States has a Gini coefficient of 0.4 and Sweden has a Gini coefficient of 0.25. Which of the following statements is true? The distribution of income is more equal in the United States. The distribution of income is more equal in t..
Those who desire that policymakers stabilize the economy would advocate which of the following when aggregate demand is insufficient to ensure full employment?
Critically evaluate the following statement: Playing the stock market is like gambling. Such speculative investing has no social value, other than the pleasure people get from this form of gambling.
Suppose the relationship between Demand for good x (Qx) can be described by the following linear relationship
Elucidate how the effect of this graph on the country's production possibility frontier. Explain Illustrate what occurs in the graph.
Politicians are often heard saying that tuition at state universities should be kept low "to make education equally accessible to all residents of the state, regardless of income." Think about the flu shot in the context of a public good. What are th..
Gomez runs a small pottery firm. He hires one helper at $18,000 per year, pays annual rent of $8,000 for his shop, and spends $24,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth) t..
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