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Through critical thinking in philosophy, we learn that traditions, beliefs, opinions, and assumptions can hinder us from arriving at logical decisions. Many of you are used to basing your decisions on any or all of the above (recall Plato’s Cave).
Why is it important to learn other means of arriving at important decisions?
What is your expected utility if you reach your sales goal 50% of the time? b.Suppose the sales goal was lowered so that you meet it 60% of the time.
The consumption function is C = $400 billion + 0.6Y and the government wants to stimulate the economy. By how much will aggregate demand at current prices shift initially (before multiplier effects) with:
Illustrate what are your views on free trade versus protecting domestic marketplaces through tariffs also import restrictions.
If the tax multiplier is -1.5 and a $200 billion tax increase is implemented, what is the change in GDP, holding everything else constant?
1. in which market model would there be a unique product for which there are no close substitutes?a. monopolistic
If the required reserve ratio ia 10 percent, up to illustrate what amount could checking account deposits in the banking system as a whole drop.
Using the ITT Tech Virtual Library, research information on companies that have engaged in monopoly behavior, such as Microsoft, Google, or Wal-Mart, and explain how society has been affected by the monopoly behavior using that information.
Suppose (contrary to fact) that the Scottish independence referendum had passed, Scotland had become independent, and you became its finance minister. Your first order of business is to recommend a currency for Scotland. Three proposals have been mad..
You have been asked to discuss the differences between the microeconomic definitions of supply and demand and the macroeconomic differences of aggregate supply and demand. Discuss what determines supply and demand and aggregate supply and aggregate d..
Price Elasticity of Demand and Price Elasticity of Supply at the equilibrium point.
On the grounds of economic efficiency, do you think such a proposal to raise taxes on gun and ammunition sales worthy of attention? Discuss in terms of appropriate economic models
When looking at a cheaper dollar, you will find that this will affect our economy. We are able to export more goods and services given the cheaper dollar. How do you think the US can support a cheaper dollar?
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