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If the CPI was 110 last year and is 121 this year, what is this year’s rate of inflation? In contrast, suppose that the CPI was 110 last year and 108 this year. What is this year’s rate of inflation? What term do economics use to describe this second outcome?
Suppose the demand for pizza is given by Q=40-2P and the supply of pizza is given Q=P-8. if the price of pizza is $19, Illustrate which of the subsiquent is true.
A consumer receives income y in the current period, income y in the future period, and pays taxes t and t' in the current and future periods, respectively. The consumer can lend at real interest rate r. the consumer is given two options.
Absolute and comparative advantage: Explain how these concepts describe the benefits and costs of international trade.
Suppose that the U.S. government decides to charge cola consumers a tax. Before the tax, 25,000 cases of cola were sold every week at a price of $7 per case. After the tax, 18,000 cases of cola are sold every week; consumers pay $8 per case (includin..
Economic surplus could be increased at a higher price because firms would generate more revenue.
Behavioral economics clearly makes an important contribution to our understanding of economies. Which, after all, are driven by human behavior?
According to the lectures in class, although consumption spending is about 70% of the total spending in the US economy (C=70%, I=15%, G=15%) its effect is stronger than 70% on the economy why?
January $40,000, February $30,000, and March $50,000. For each month, prepare the entry to assign overhead to production using a predetermined rate of 80% of direct labor cost.
If it decreases the price to $63, what should be the quantity sold? Will revenue increase? Why? Show all work
q.1. suppose the demand for a product is given by p 30 - 3q. also the supply is given by p 10 q. if a 4 per-unit
Assume the demand for gasoline is perfectly inelastic—i.e., the demand curve is vertical. If a tax is levied on the producers of gasoline, what percentage of the tax collection would be paid by the consumers of gasoline 0% or 100%? Explain.
The very recent past in Latin America suggested at least the possibility of a swing back toward populism. Research this question and decide whether current populism in Latin America is similar to past populist movements, especially by comparing econo..
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