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Realizing that the major function of benefit is to allocate resources according to consumer preferences, why are some groups in United States extremely critical of corporations that earn increasing benefits? Is this criticism a function of large CEO salaries or is something else driving these attacks?
Suppose an economy has the following production function: Y=F(K,L)=K0.4L0.6, Determine the per worker production function.
Which of the following situation descriptive a perfectly competitive market. Graph marginal costs from table below and answer the following questions:
The U.S. government spends over $15.8 billion on its Food Stamp Program to provide millions of Americans with the means to purchase food.
A new taco-making machinery which is similar in size and cost to hog dog carts has encouraged more street vendors to begin selling tacos.
Compute the gain from trade but you should discuss how comparative advantage is used.
Elucidate and discuss if and how this has changed over the past 5 years. Write a brief description of the fiscal policy of the United States.
Define the Economics terms, national accounting identity, Hodrick Prescott filter and what it does, Cobb Douglas production function
Elucidate the impact of inflation on salary rates and employment.
Explain how does the timing of lay-off and hiring decisions made by firms explain the misleading characteristic of this indicator.
Consider a competitive market for which the quantities demanded and supplied (millions per year) at various prices are given as follows:
Two goals of monetary strategy in the United States are price stability and full employment. Explain with the help of the appropriate graphs.
Elucidate what is the residual demand elasticity facing one firm at the competitive equilibrium.
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