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Give an example of how the Principle of Opportunity Cost applies to your life. Think of a recent decision you made. It could be a decision as simple as whether to eat out or cook your own dinner, or it could be a decision to quit your job and go back to school. What alternatives did you consider? How did you arrive at your final decision? Did you implicitly weigh marginal cost and marginal benefit? How does the concept of opportunity cost apply to production possibilities curve (PPC) analysis? How can we use PPC analysis to examine what we do?
Upon taking his first job at college your Dad earns an annual salary of $38,000 and set a goal to earn $10000 per year. If his salary increases at an average annual rate of 12% how
Malthus surmised that "poverty and misery are the natural punishment for the failure by the ‘lower classes' to restrain their reproduction." The policy implication of this viewpoin
The cash flows (CF t ) associated with an investment are listed below (assume that each cash flow occurs at the beginning of each year): CF 0 = -200
Can growth arise without development? Growth is just one feature of development and therefore is an essential but not enough condition for economic development. For example, g
Explain about the diminishing returns to an input. There are diminishing returns to an input while an increase within the quantity of which input, holding the levels of each of
with help of is-lm technique explain the process of integration of money market and goods market by way of keynesian approach
Instructions For the following 10 questions, consider an economy which is initially in equilibrium without a tax, with P* of $90 and Q* of 10. Later, a tax is put on the market
Pine Village needs some additional recreation fields. Construction will cost $225,000 and annual O&M expenses are $85,000. The city council estimates that the value of added youth
Do you agee or disagree " Economic theory helps society reach economic goals that it has selected for itself?" Justify your answer.
Introduction of labour market A vital macroeconomic variable is the total amount of labor which is used in a certain time period. Amount of labor and amount of capital are sig
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