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1. Why might the Homo sapiens production possibilities curve have shifted outward to the right much more rapidly than those of Neanderthals?
2. Why might failure to specialize explain why Neanderthal groups in difference areas did not trade? (Remember that comparative advantage is the key basis for trade.)
3. For a review of the economic theory of the demise of the Neanderthals and main arguments against the idea that economic failings were the main source of Neanderthal's extinction.
Explain how the US government managed to accumulate a debt of over 14 trillion. To whom does it owe this debt? Is the debt a burden on future generations?
The Optimal Scam Corporation would like to see its sales grow at 20% for the foreseeable future. Its financial statements for the current year are presented below.
Determine the rate at which Mitsubishi can rent capital and the marginal productivity of labor at its new targeted level of output. To minimize costs Mitsubishi should hire capital and labor until the marginal rate of technical substitution reache..
How would a communist economy, a market economy and a mixed economy react to technological changes? How wold they react to social changes? What is the role on nature in these three economies?
Solve the following storage problem under perfect competition. Provide the prices and quantities in each period with optimal storage and compare the net present value to a no storage scenario (use a discount rate of r = 0.05).
GDP growth is approximately 1.5 percent and has been at that level for two years. Inflation, as measured by both the CPI and GDP deflator has been at approximately 1-2 percent for the last two years.
Explain whether the following government activities is motivated by a concern about equality or a concern about efficiency. In the case of efficiency, discuss the type of market failure involved- regulating cable TV prices.
Does the fact that your bank keeps only a fraction of your account balance in reserve make you uncomfortable? Why do not people rush to bank and retrieve their money?
Illustrate what are the dominant industries and or corporations, and who controls them. What is the trade relationship between your country and the United States.
Craft Unions Both industrial and craft unions attempt to raise their members' wages, but each goes about it differently. Explain the difference in approaches and describe the impact these differences have on excess quantity of labor supplied.
In order to reduce farm output, raise farm prices, and thus raise farm incomes (revenues), the government pays farmers to set aside a portion of their land from production. Using a graph, explain in terms of the elasticity of demand for farm produ..
suppose the yield to maturity on a 2 year treasury note was 4.5 while the yield on a 1 year not was 5.5 assume that
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