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Analyze why the prices of gasoline rose so high over the summer. Was it because OPEC cut back production and the number of people driving was more? Illustrate this using a graph showing a decrease in supply coupled with an increase in demand, resulting in large price increases.
According to law of comparative advantage , who should produce wheat and who must produce Cd palyer? Evaluate all relevant opportunity cost.
Bill sees a classified ad offering a used DVD player for $5. On the opposite page, he sees a big color ad from a national electronics chain offering new DVD players for $50. Bill values a DVD player at $75 so long as it works, regardless of whether i..
Two indicators of economic development include Gross Domestic Product (GDP) and the Human Development Index (HDI). What is the difference between these two ways of measuring levels of economic development. Identify an advantage and disadvantage of..
A new type of robot is invented, resulting in increased productivity across all industries and the U.S. Federal Reserve increases its money supply. What happens to the U.S. economy and the Canadian economy?
Last month, Rick's Bike Shop, Inc. increased the price on the 22-ounce can of Camp A bearing grease by 4.5 percent. In response, sales dropped by 9 percent. A) Calculate the point price elasticity of demand for Camp A bearing grease. B) Calculate..
Need help to write a report including a list of top 10-countries based on population size including the average population growth rates and with the potential return of FDI of top nation on the list.
Illustrate and explain the interaction of households, businesses, government and global markets in the circular flow of economic activity.
You are looking to install a new solar energy system for your house (for heating, air conditioning, and hot water). The cost of the system is $14,000 and the annual savings in electricity for this system today is $2500. This system has a lifespan ..
Explain why the cost structure associated with many kinds of information goods and services might imply a market supplied by a small number of large firms.
nGDP is $5 trillion in Yr 1 and $5.4 trillion one year later. What is the GDP growth rate? B) If rGDP in Yr 1 was also $5 trillion what can you say about Yr1? C) If rGDP grew 5% between Yr. 1 and Yr. 2 what did GDP prices do?
Jason is indifferent between $10 for sure and a lottery that pays $100 with probability 0.09 and $0 with probability 0.91. He is also indifferent between $70 for sure and a lottery that pays $100 with probability 0.80 and $0 with probability 0.20.
explain briefly what is happening in this economy before and beyond the equilibrium output level point "a". The equilibrium output is the level of output at which the 45-degree line intersects the planned expenditures line.
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