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Examine the level of business activities in the U.S. economy over the past few months. Which trends do you find of interest? What stage of the Business Cycle is the U.S. economy, given the current levels of business activity?
What does the elasticity of demand for labor measure? List and describe the three determinants of this type of elasticity.
Describe the difference between nominal, effective and real interest and calculate what is owed after 5 years for the following example. 10% interest on $100 over the course of 5 years. Where relevant, the compounding period is 1 year. Inflation is 5..
elucidate how many units of fish could it now consume along with the 80 units of imported wheat.
Illustrate what way the U.S trucking organization exemplified the capture theory hypothesis of government regulation prior.
Describe the relation between marginal and average costs. Describe the relation between marginal and average fixed costs. Describe the relation between marginal and average variable costs.
Proposals for modifications of the law are formulated by committees. Under the closed rule, the legislature may either accept or reject a proposed modification, but may not propose an alternative.
Suppose you are given the following Total Product Function: Q=100K^3/2 L^4/2 M^4/7,where Q is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function. Take the log of the above func..
Suppose that there are 150 houses in the community with 2,000 square feet (providing services that rent for $10,000 per year). The interest rate is 4% and with proper maintenance all of the houses will last forever. In an election the population deci..
Define the terms “globalization,” “comparative advantage,” and “outsourcing.” Discuss how globalization and the economic concept of comparative advantage relate to the practice of outsourcing.
Which of the following is NOT an example of a process designed to combat moral hazard problems?
Explain how political obstacles (lack of skilled officials, instability, corruption, and constaints by special interest groups) and cultural obstacles (cultural attitudes that discourage entrepreneurial activity and and encourage rapid population gro..
The following set of statements contains common errors. Identify and explain each error. Demand increases, causing prices to rise. Higher prices cause demand to fall. Therefore prices fall back to their original levels. The supply of meat in Russia i..
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