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1. Explain the factors of production and give an example for each one.
2. What is the difference between a normal good and an inferior good? How does this relate to the demand curve?
3. What is the consequence of a positive externality in a market? What is the consequence of a negative externality? Why do those consequences occur?
4. Briefly explain the three tax systems - proportional, progressive and regressive. As you explain each one, also compare the relationship between marginal tax rate and average tax rate as income rises for each one.
Assume that you have $165,000 invested in a stock that is returning 11.5%, $85,000 invested in a stock that is returning 22.75%, and $235,000 invested in a stock that is returning 10.25%. What is the expected return of your portfolio?
Describe an example you are familiar with in which a technological innovation led to an improvement in productivity. What was the effect on the cost of doing business or activity in which this technology was employed?
Assume that the medical screening industry is perfectly competitive. Consider a typical firm that is making short-run losses. Suppose the medical screening industry runs an effective advertising campaign which convinces a large number of people th..
if Q = 60 − (1/2)P, and MC = 60, which means that MR = 60 how do you work out the price, which then allows you to work out the Q
What is the corresponding stock variable to the flow variable "investment"
Find out the equilibrium price and quantity and illustrate with a graph. The government imposes a tax of $5.00. Find the new equilibrium price and quantity. Determine the total tax revenue earned by the government
What is the Federal Reserve (Fed) all about Which Federal Reserve District Bank is closest to you Who is the current Chairman of the Fed Should the Fed remain independent from political authority or should the President and Congress have a say in ..
Technological advance improves productivity in a purely competitive industry. This change will result in a shift: a.) down of the individual firm's MC curve, causing the market supply curve to shift to the left b.) down of the individual firm's MC cu..
Rising educational levels of women have been central to our discussions of marriage behavior, fertility behavior and labor force behavior. And, education is a focus of the recent report by the Pew Research Center.
Determine the mariginal product. Determine the average product function. Find the value of L that maximizes QFind the value of L at which the marginal product function takes on its maximum value.
The average 15-year old purchases 12 CDs and 15 cheese pizzas in the typical year. If cheese pizzas are inferior goods, would the average 15-year old be indifferent between receiving the $30 gift certificate at local music store and $30 in cash?
According to the rule for optimal input usage, a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the company.
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