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The following questions are about the one-period macroeconomic model discussed in class. Notice that nothing has been specified about the preferences of the consumer or the production technology of the firm.
Suppose there is a new production technology that increases total factor productivity, z. How does this effect the labor supply choice of the representative consumer?
What are the four dimensions of culture studied by Geert Hofstede? Identify and describe each. What is the cultural profile of the United States? Of Asian countries? Of Latin American Countries?
Japan's rapid growth pushed its real GDP per capita above that of the United States. Growth rates in follower nations such as South Korea and Hong Kong averaged about 10 percent per year.
W hat will happen to the number of firms, the market supply, and the price of the good as we move from the short run to the long run?
Case analysis: Societe Generale (A): The Jerome Kerviel Affair Knowing how to analyze a case will help you attack virtually any business problem. A case study helps you learn by immersing you in a real-world business issues—and makes you a decision-m..
When an incumbent maintains a price below the monopoly price in order to prevent entry. The act of charging a low price initially upon entering a market to gain market share.
Suppose you wanted to study intertemporal food purchases. You have annual data on food purchases. Would it be valid to assume that food in one year and food in another year are perfect substitutes? Why or why not? A consumer, who is initially a lende..
why is it difficult for the government to control and regulate monopolistic enterprises? Give a minimum of two real-world examples from recent history
Discribe the difference in economic profit between a competitive firm and a monopolist in both athe short and long run. Which should take longer to reach the long-run equilibrium?
Integrating problem Samantha Roberts has a job as a pharmacist earning $30, 000 per year, and she is deciding whether to take another job as the manager of another pharmacy for $40,000 per year or to purchase a pharmacy that generate revenue of $200,..
Suppose someone tells you that, over time, free trade is helping capitalists and harming workers. What fact would you cite to challenge this statement?
What is regionalism? Use European Union as an example to illustrate the major steps toward regional integration. What major features can you identify for regional integration in Europe, North America and East Asia? What are the dynamics for regional ..
Prepare a Cash budget for the Quarter ending 30th September 2014 and prepare a schedule of cash receipts from debtors for the period ending 30th September 2014.
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