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Assume that scooters are an inferior good. Assume that consumers' income has increased and that labor costs for producing scooters has decreased. Draw and describe a graph showing what would happen to equilibrium price and equilibrium quantity in the scooter market when income increases and labor costs decrease
The United States, with about 300 million people, accounts for about 5% of the world population, but it accounts for over 20% of the world GDP and consumes over 20% of global resources. What do you think? What is your future global economic and busin..
The demand for bread will fall if more Americans go on a low diet. The cost of bread will fall due to the decrease in the demand for bread.
Do recent economics actions justify greater regulation in the financial services industry Wall Marts continuous replenishment system illustrates a tactical utilize of information services.
A college graduate is $24,000 in debt from her loans. The interest rate on the debt is 0.75% each month. The monthly payments are $432.61. How many moths will it take to pay off the debt?
Lenny was a resident of Maine and Milly was a resident of Arizona. Both went on vacation to Nevada. When on the golf course, Lenny drove the golf car recklessly, hit Milly, breaking her back. Milly suffered damages of $84,000. Indicate which states ..
Macroeconomics: A. How do we measure long term economic growth of a country? What are the key determinants of long run economic growth? B. What is the relationship between economic growth and productivity? What is the major source of growth in labor ..
51.q1. clarify export promotion policies as well as import substitution policies with examples of countries that
What was disposable income (DI) for 2009? What does disposable income consist of? How did DI change from 2008? What caused these changes? 4. Does GDP measure the well-being of society? Why or why not? 5. What was GDP in 2008 (sometimes called GSP) ..
Compute the average total cost, average variable cost, and marginal cost of producing 60 to 72 haircuts. Draw the graph of the three curves between 60 and 72 haircuts.
The new requirements that (most) firms provide health insurance to workers can be thought of as increasing the costs of labor. What kinds of industries will be more likely to respond with large decreases in employment in response to these rules? How ..
Office building maintenance plans call for the stripping, waxing, and buffing of ceramic floor tiles. This work is contracted out to maintenance firms, and both technology and labor requirements are very basic.
To what degree does real GDP measure to health of an economy? How is it possible to make valid international comparisons of real GDP? Support your answer with examples.
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