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5 countries are USA, Japan, Sweden, Trinidad and Tobago, and BotswanaGo to CIA world factbook, click on guide to country comparisons, economy and GDP per capita to answer the following question:
Which country has the highest and lowest standard of living as indicated by their GDP per capita?
Demand and supply schedules
What is meant by adding "autonomous" net exports 2] What affect would positive net exports have on Y* negative? Net Exports equal to zero How would the aggregate expenditures function be affected in each case Present each case graphically.
Good Grapes is selling grapes in a purely competitive market. Its output is 5000 pounds, which it sells for $5 a pound. At the 5000-pound level of output, the average variable cost is $4.00, the marginal cost is $4.25, and the average total cost i..
Assume that a profit maximizing monopolist faces an inverse demand function given by p(), and a total cost given by c(y). Suppose the government wishes to combat the undesirable allocational effects of a monopoly
What are the mean earnings of males and females in this sample? Does the regression result support the claim in the news?
Explain the law of diminishing returns in your own words. This idea can be applied to other concepts in economics. Think about your own utility from consumption. Give a personal example of diminishing utility.
How does your selected religious group differ from other religious groups (such as in their beliefs, worship practices, or values)? What has been the experience of your selected religious group with others that do not share its beliefs or pr..
Explain which bridges you would choose to attempt to use. (Assume you can put one foot on a bridge to see if it collapses before you attempt to cross.)
If the price in this market were $160, explain why this would not be the market equilibrium price and find the equilibrium price and equilibrium quantity exchanged for this market.
Suppose You have been employed by an unprofitable company to determine whether it should shut down its unprofitable operation.
Recent increases in rents have caused the citizens of Elmville to vote for a rent ceiling of $1200. Assuming all rental units in Elmville are identical and the supply and demand for rental units are given by Qs = -1000 + 20P
It is argued that the prices of inputs to firms' production processes are fixed in the short run. One example of why this might be true is that some large firms enter into futures contracts forlarge deliveries of raw materials like wheat or lumber..
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