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Some people will argue against using either monetary or fiscal policy, instead supporting a laissez-faire approach to the economy. The well-known economist Milton Friedman, for example, believed in the permanent income hypothesis and was also a monetarist. What monetary policy prescription do monetarists support?
What is significant about each of the following pieces of legislation with regards to the development current labor policy in the US?
q.if the demand function for bananas is given by the following equationqd54000-6000pand the supply function for bananas
Sarah’s friends are trying to convince her to leave her summer job one month early, from which she earns $1200 per month, to vacation in Costa Rica. If she goes there, her out-of-pocket expenses would be $2400. What is Sarah’s marginal opportunity co..
Karen runs a print shop that makes posters for large companies. It is a very competitive business. The market price is currently $1 per poster. She has fixed costs of $100. Her variable costs are $1,000 for the first thousand posters, $800 for the se..
How do you find consumer surplus, producer surplus, and total surplus from these two equations? Supply: Qs=4p-80, demand: Qd=100-2p
A store offers two payment plans. Under the installment plan, you pay twenty percent down and twenty percent of the purchase price in each of the next four years. If you pay the entire bill immediately, you can take a five percent discount from the p..
Trevor consumes two goods: fruit (good x) and vegetables (good y). His demand for fruit is given by x(px,m)=.04m-4.24px. His income is $322, the price of fruit is $2, the price of vegetables is $1. If the price of vegetables rises to $3, calculate to..
The nation of Leisureland can produce two goods, bicycles and bowling balls. The western region of Leisureland can, if it devotes all its resources to bicycle production, produce 100 bicycles per month. What is the opportunity cost of producing an ad..
An engineer borrowed $3000 from the bank, payable in six equal end-of-year payments at 8%. The bank agreed to reduce the interest on the loan if interest rates declined in the United States before the loan was fully repaid. What is the amount of the ..
A large induced-draft fan is needed for an upgraded industrial process. The motor to drive this fan is rated at 100 horsepower, and the motor will operate at full load for 8,760 hours per year. The motor’s efficiency is 92%. what is the present worth..
What does the high degree of effective control of the world economy by 'the corporate tribe,' along with the extreme concentration of personal wealth in the United States in the hands of the same individuals.
Two methods of filling cereal boxes are being compared. Both methods fill the box with the same amount of cereal on average so the company wants to select the method with the lower variance. At the 5% level of significance, does it appear that the va..
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