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What is meant by a 'feedback loop' in a complex, interconnected system? Give examples of negative and positive feedback loops? Explain what is meant by synergetic interaction in a complex system and its importance?
Hulk goes to the gym 20 times a month. His income is $1000 per month and his visits to the gym cost $4 per visit. For simplicity, assume all other goods that Hulk consumes besides the gym costs $10 each. Assume Hulk exhibits diminishing marginal rate..
Joe and Jim purchase vegetables at a grocery store, but Jim also grows vegetables in his back yard. Only Joe’s grocery store purchases are included in GDP. Only Joe’s and Jim’s grocery store purchases are included in GDP.
The terms of trade are the
What steps should multinational companies take to ensure that their subcontractors are behaving in an ethical manner? How should companies make human rights issues part of their overall policy?
A life-insurance salesman spends 9 hours a week on the telephone soliciting new clients. From past experience, the salesman estimates that each hour spent calling students, blue-collar workers, and professionals will produce the following number of a..
Consider a small open economy in the short run where the government imposes trade tariffs on corn. (a) Given a floating exchange rate sketch a graph of the impact of the tariffs on IS-LM. (b) With a floating exchange rate how does the trade tariffs i..
The Central Bank of Muji wishes to eliminate the recessionary gap while expansionary monetary policy. The central bank can do so by stimulating consumption and planned investment.
In the cas Palmer v. Champion Mortgage Palmer received a debt-consolidation loan from Champion. When she signed the loan agreement, she also received the required TILA disclosures.
Draw a graph showing a supply and demand curve for wine. Indicate clearly the equilibrium price and quantity. Suppose that a lack of rain during the year has caused the grape harvest to be smaller than usual (grapes are an input for making wine). Sho..
We know that one of the key requirements for a market remain monopoly is to keep high barriers for others to enter the market. We have also learned 5 ways that how does monopolist set high barriers (Lecture slides pages 8-14). Give one example of ind..
Suppose you have two goods, ice cream and macaroni(an inferior good to most people). show graphically what would happens when the price of the ice cream decreases and income increases.
MR/MC - Imperfect Competition: Remember that Imperfect Competition includes Monopoly, Oligopoly, and Monopolistic Competition --- CHAPTERS 12 and 13. Answer the next question on the basis of the following information for a firm operating in an imperf..
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