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Why do economists use economic models when making predictions or assumptions about the economy? Which economic model do you believe is the most beneficial to YOU at the present time? Why?
Explain Thorstein Veblen's theory of consumption. Is economic behavior, and consumption in particular, driven by utilitarian impulses or socio-cultural factors? What is the point of conspicuous consumption and conspicuous leisure?
Annual savings due to energy efficiency thermo well have a most likely value of $30,000. The most optimistic value is $40,000 with a probability of 0.2 and a most pessimistic value of $20,000 at 0.3. The First Cost is $150,000, the interest rate 10%,..
Schaefer organic farms purchased a new tractor at the cost of $80000. Annual operating cash inflows are expected to be $30000 each year for four years. At the end of the tractors useful life, the salvage value of the tractor is expected to be $5000. ..
Question 1 The accompanying payoff matrix depicts the possible outcomes for two players involved in a game of Rock, Paper, Scissors. If a player receives a payoff of 1, the player wins;
"An analogy for the national debt and budget deficit would be total amounts owed for student loans after graduating from college versus amount borrowed each year to go to college, respectively" Do you agree with the statement? Why or why not?
Suppose that households in the U.S. increased their desired holdings of currency by $55 million as the Fed was adding reserves to the banking system. How would your answer to question (2) be affected, assuming that the Fed still wished to generate an..
Medical costs are once again rising rapidly, forcing health care back into political prominence. This issue direct affects you as a student, family member, employer, and/or employee. The problem of medical costs is so pervasive that it underlies thre..
If marshmallows and graham crackers are complements in consumption, an increase in the price of marshmallows causes a(n)__ for graham crackers.
firms raise capital from investors by issuing shares in the primary markets. does this imply that corporate financial
With everything else being equal, if the price level in the USA increases relative to foreign countries, then which of the following happens? If the real exchange rate between the USA and Japan is 0.35 then it means. If foreign countries increase the..
Consider our simple model of a system of factory cities. Why is there more than one city? Does anyone in the region produce both shirts and bread? Why? Suppose transportation technology improves. What will happen to the system of cities, holding al..
In the short run ,lowering the federal funds rate shifts the aggregate demand curve----------so that the real GDP---------and the price level --------------
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