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Suppose that in 2013, the economy produced 10 shirts at $20 each and 5 hamburgers at $5 each. In 2014, the economy produced 15 shirts at $21 each and 10 hamburgers at $6 each. Calculate the nominal GDP in 2014. What is the value of real GDP produced in 2014 using 2013 as the base year?
Saudi Arabia has a comparative advantage in producing oil because it:
What economic example could be used to demonstrate incentives that were used to "nudge" buyers/sellers
A necessary cost-side condition for a firm to implement a cross-subsidization pricing strategy is:
Welfare is a contentious topic in America, but it’s just part of the overall budget process. In essay form, explain how the federal budget is divided. Which of those categories fluctuates (give an example) and which is fixed?
Price Elasticity of Demand and Price Elasticity of Supply at the equilibrium point.
Present the arguments for free trade and the arguments for protection of the US domestic steel industry. Analyze and evaluate the arguments. What policy should we follow in the steel industry and why?
A 40-acre Christmas tree plantation produces $3,500 of net revenue per acre every 9 years. If the interest rate is 8%, what is the maximum amount money you should be willing to pay to acquire the plantation when the first cash flow is 9 years away?
It has been proposed that a government agency be charged with the responsibility for determining the amount of pollution
Outline the consumer purchase decision process you used to select your college or university. Discuss your perceived problem, information sources used, awareness set, evaluative criteria, consideration set, and how happy you are with your decision.
An analyst makes the following statement: “A firm should add the total capital raised in a convertible bond issue to its debt balance when estimating the cost of capital and should ignore the equity portion until the bonds have been converted, at whi..
Bulls Eye department store specializes in the sales of discounted clothing, shoes, household items, etc. similar to the offerings at a regular Walmart or Target. Bulls Eye is the only department store in Show Low and the nearest other discount retail..
Calculate the elasticity of demand as a function of Q. Does firm's profit maximization problem satisfy the global SOC? Using your answer 1,2 question, what is firm's profit maximizing markup?
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