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Q. 1. Suppose that Ken spends 4 hours playing golf, paying green fees of $50, rather than working at his job that pays $10 hour. What is economic cost of his decision to play golf? a) $90 b) $60 c) $50 d) $40 e) nothing, since he enjoys golf much more than working anyway.
2. Which of graphs below shows Y increasing at a decreasing rate? Which of following issues is related to microeconomics rather than macroeconomics?
the standard product of labor is 6 flutes per day also the marginal product of labor is 8 flutes per day.
If the firm's MARR is increased to 25%, what would be the required savings in leasing so that the project would remain profitable.
Study by the National Park Service revealed that 50 percent of vacationers going to the Rocky Mountain region visited Yellowstone Park, 40 percent visit the Tetons, and 35 percent visit both.
Original owners must sell their used cars. Original owners know what their cars are worth, but buyers can't determine a cars quality until they buy it.
Which of the following is NOT a shortcoming of the civilian unemployment rate reported by Statistics Canada every month.
Elucidate the dynamics through which an increase in the stock of money affects real output and the price level in the short run.
Illustrate the tourism industry in Florida prior to the spill and potential tourists, rightly or wrongly, fear polluted waters and ruined beaches from the spill, show the new lines and equilibrium points after the spill.
Use the data on U.S. real GDP below to compute real GDP per person for each year. Then use these numbers to calculate the percentage increase in real GDP per person from 1987 to 2005.
Compute the equilibrium price of guitars and the equilibrium quantity of guitars in State College.
During the course of a week, McDonald's has enough time to hire or layoff workers, but it does not have enough time to expand its kitchen or add an additional seating area.
Demonstrate and explain the full process illustrate what happens when the central bank increases their long run target for inflation.
Illustrate would the gross receipts of strawberry growers be if the crop turned out to be 30,000 cases.
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