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A shift outward in the demand curve always results in an increase in total spending (price times quantity) in a good. On the other hand, a shift outward in the supply curve may increase or decrease total spending." Explain?
Illustrate what sectors of the economy are likely to expand or recover in the near future. Illustrate what sectors may be the most vulnerable in the next year.
In an article regarding the sales of SPAM (the food product) it says "sales are growing by double digits". Is the reason people are buying more Spam due to a price reduction or a change in one of the determinants of demand
OPEC oil cartel becomes subject to this tension or conflict such that the cartel gives way to a more competitive oil market resulting in a dramatic decrease in the world oil price.
Tom have only $60, and he want to spend it all on clothing (X) and food (Y), Price of clothing is $4. Find out the optimal values of both goods (Y*,X*) and Utility?
Why is economics considered a social science? What role does economics play in your personal and professional lives?
At the end of 1987, you bought a piece of land for $35,000. In addition to the $35,000, you paid $1,700 in closing costs (costs associated with the purchase and title registration). For the years 1988 through 2002, you paid, on average, $950 in pr..
What is a government budgetdeficit? How does a federal budget deficit affect the economy? Howdoes it affect the level of investment and interest rates? How doesit affect the individual consumer? Give at least three examples inyour response.
Identify and discuse the IS-LM framework (determination ofincome and the interest rate) and equivalent AD-AS framework.(determination of price level and income) and how changes inequilibrium occur as a result of changes in fiscal
Jeff Boynton,Consider the following graph:Based on the above graph, answer the following questions for a monopoly and a perfectly competitive firm. Discuss the differences you observe in above between the monopoly and perfectly competitive firm.
GRAND RAPIDS, Mich. - Kellogg Company on Monday said its earning growth 17.3% in the 2nd quarter on strong firm wide sales growth, beating Wall's Street's expectations.
The table above demonstrate the prices and quantities of 2-goods produced in a country in 2006 and 2007. These are the only goods produced in the country.
If unit labor costs in Spain and Portugal rise, but unit labor costs in Germany decline and other producer prices remain unchanged, what effect should these factors, by themselves, have on export trade, and why
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