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1. Explain how uncertainty in calculating the true GDP deflator makes it uncertain how much the production of goods and services has increased.
2. Explain how Alan Greenspan's strategy as the Fed Chairman may have contributed to the 2008 financial crisis. (3 sentences or less)
Assume consumer equilibrium (budget curve and indifference curves). Draw 3 separate scenarios: (1) the price of good x decreases; (2) the price of good y increases; and (3) the budget (income increases). In each scenario, explain the effect on the gr..
The benefit of cutting down a forest is $1 million now. the environmental cost of that harvest is $10/year forever.
1. In which of the following situations is the Coase theorem likely to apply? Explain.
Suppose market demand for a product is given by the equation P = 20 – Q. For this market demand curve, marginal revenue is MR = 20 – 2Q. If the marginal cost of producing this good is 0, what quantity would a profit-maximizing monopolist produce? If ..
Elucidate the relationship between MC and AVC that causes MAC to intercept AVC at AVC lowest point with economics.
Using only.gov Websites report the current GDP, the current Federal deficit, the current Federal debt, the bottom line of the current (last) budget approved by Congress (surplus or shortage). Note that the fiscal year for the federal government is Oc..
The loss to society resulting from a tax includes the
"Strategy has two major dimensions: positioning for the present and adapting to the future" (Jordon & Grant, p. 170). In adapting to strategic change, structures, systems, and culture are the most stable parameters of an organizational design and tho..
Find the profit-maximizing choice of q for this miniature farm; also compute profits that will be earned at this choice of q.
q. this graph shows the quantity of electricity that consumers demand by the government at a regulated price set. each
Either an increase in demand with the supply curve held constant or a decrease in supply with the demand curve held constant will raise a market's equilibrium price.
Under what conditions might the Justice Department approve a merger between two companies that operate in an industry with a premerger Herfindahl-Hirschman index of 2,900 if the postmerger index is expected to increase by 225.
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