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Consider the following scenario: Neha is training for a triathlon, a timed race that combines swimming, biking, and running. Each hour she spends swimming is an hour that she can't spend biking or running.
Which basic principle of individual choice does this sentence best illustrate?
= People usually exploit opportunities to make themselves better off. = All choices have opportunity costs. = Neha can use time most efficiently by spending the same amounts of time on swimming, biking, and running. = Neha has an incentive to spend more time on swimming than on biking or running.
Suppose that the rate of inflation in Japan is 2% in 2011. If the rate of inflation in Germany is 5% during 2011, by how much would the yen strengthen relative to the euro if relative PPP is satisfied during 2011?
1. a) Distinguish between the two output gaps in the economy. b) Assuming the economy begins in long run equilibrium and policy makers take no action, use AD-SAS-LAS diagrams to show the short and long run effects on output and inflation of a shar..
Reflecting back on what you learned about sustainable management practices throughout this quarter; determine 5 activities that illustrate sustainable management of resources that you pursue in your everyday life.
Consider the relation below, ONLEAVE, which lists the faculty members who are on leave (Faculty_Name). Each Faculty Member's name is UNIQUE. Each Faculty Member belongs to only one DEPARTMENT. Each DEPARTMENT, has one CHAIR. The Primary Key of thi..
Why might a profitable motel shut down in the long run if the land on which it is located becomes extremely valuable due to surrounding economic development? What kinds of costs are involved in making a decision to shut down?
i. What would you recommend to the government to create a level playing field for the local firms and the western exporters of meat to India? ii. Can you cite any other typical product where India's advantage turns into disadvantages as a result of..
Describe a real or hypothetical situation that requires someone to make a policy decision. Then, select one of the three approaches to forecasting to apply: extrapolative, theoretical, or judgmental. Provide at least two reasons for your selectio..
Hasn't the Fed already tried quantitative easing? When? What were the results? Discuss the method of quantitative easing used by the Federal Reserve during the most recent U.S. recession, including any criticisms of this action.
Which policy – the tax or the subsidy – would cause less pollution to be discharged into the river? Explain.
Using demand and supply analysis, explain the influence of the imposition of a maximum price and a minimum price on a product on price and quantity.
What output level would the firms short run and long run average costs be the same - Explain the pattern of the marginal product of labor.
Public Insurance and HealthWhat is "take up"?What is "crowd-out"? What does the evidence show about take up and crowd-out from Medicaid expansion?Why did Hawaii end its universal child health care program?
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