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Were you successful in stabilizing the U.S. debt? If not, how much of a deficit or surplus did you end up with? What does this exercise tell you about the process of creating a budget plan?
Re-examine the budget cuts or increases you made. What problems would such changes pose for a politician facing re-election?
This budget simulator allows you only to change spending and tax expenditures over a one-year period. This poses what problems to finding a realistic economic solution?
The demand function is given by p(y) = 140 - y/3. What is the level of output that will maximize profit?
What is estimated exclusioin and rivalness of (1) 1000 pounds of compacted scrap steel; (2) 1/2 ton of compacted scrap steel; (3) a mahogany tree in an inaccessible Central American rain forest; (4) a mahogany tree next to a new highway through a Cen..
And within a few months, they reduced the amount of scrap to $7,000 worth [per year]." Was this necessarily an economically efficient move? Explain your answer.
The increased demand for corn to be used in ethanol is driven in large part by nearly $10 billion in government subsidies. who gains and who loses as a result of these subsidies?
Of the following, three mean the same thing and one means something different. Which option does not mean the same thing as the other three in the context of the basic market model we reviewed in class (and that you learned about in principles of mic..
Total surplus in a market does not change when the government imposes a tax on that market because the loss of consumer surplus and producer surplus is equal to the gain of government revenue. The Laffer curve is the curve showing how tax revenue var..
Two amusement parks that are located on either side of a highway are considering promotional advertising campaigns to stimulate demand. If both parks advertise, then both will experience a $20 thousand increase in profits. If Park A advertises and Pa..
Your demand for minutes of calling is given by the equation: Q_d = 150-50*P, where P is the price of a minute. illustrate what is the cost of an extra minute on the phone.
q. 1. when discussing the maximization of utility regardless of whether you chose to work more hours or fewer when
Determine whether the following production function exhibits constant, increasing, or decreasing returns to scale
What happens if the FOMC members DISAGREE on what to do with Monetary Policy? How is a compromise or resolution reached?
Consider a small economy in which consumers buy only two goods pies and tarts. In order to compute the consumer price index for this economy for two or more consecutive years.
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