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Point Production of X Production of Y A 0 40 B 3 36 C 6 28 D 9 16 E 12 0 The above table shows production combinations on a country's production possibilities frontier. What is the opportunity cost of increasing the production of X from 0 to 3 units? Selected Answer: 4/3 units of good Y per unit of good X Answers: 4/3 units of good Y per unit of good X 3 units of good Y per unit of good X 40 units of good Y per unit of good X 0 units of good Y per unit of good X
You take $1000 you had kept under your mattress and deposit it in your bank account. If this $1000 stays in the banking system as reserves and if banks hold reserves equal to 20 percent of deposits, by how much does the total amount of deposits in th..
What is industrial economics and outline the salient features of the structure - conduct - Performance (SCP) Model
Describe a national model of universal healthcare coverage. Compare the model's methods of funding for healthcare in the United States. Identify which one you think is best by discussing access and quality detail.
Describe the Harrod-Domar growth model, and explain precisely how the model illustrates dynamic instability. Why is it often called the “knife’s edge model”?
Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per year job as an accountant. Calculate your aunt's expe..
Explain why there is a blurry line dividing objects that are money from those that are not. Give examples of some clear-out cases and some borderline ones. Could the position of this blurry line change over time?
Assume that the firms act independently as in the Cournot model i.e., each firm assumes that the other firm's output will not change.
What does Friedman mean when he says the Earth is becomming "hot, flat, and crowded?" Describe three of the key problems that Friedman identifies in the book and explin why they re important.
Julia prepares tax returns and does bookkeeping. Last year her revenues from the tax and bookkeeping business were $150,000, and her expenses for the business were $15,000. When she started her tax and bookkeeping business, Julia gave up her suppleme..
Assume that the economy is starting at a long-run equilibrium. Suppose firms become very optimistic about business conditions and invest heavily in new capital equipment. Assume there is no change in the long-run aggregate supply curve. What is the e..
When Calvin Coolidge was vice president and giving a speech about government finances, he said that: “inflation is repudiation.’’ What might he have meant by this? Do you agree? Why or why not? Does it matter whether the inflation is expected or unex..
inflation was 3% last year, expectations are adaptive, and the phillips curve equation is pi = pi + 0.5 (Y -Y*)/Y*. What will the inflation rate be this year?
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