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Which of the follow is a characteristic of a command system?
a) a dictator or group of central planners
b) independ decisions of individuals in the market place
c) production goals or targets are transmitted from the top authorities to the individual producing units
True or False: Every country can be categorized as using either the command system or market system to coordinate its economic activates
Which of the following is the correct definition of economic growth?
Calculate MPC, MPS and the Multiplier if consumption expenditure increases by $4,250 as a result of increase in income from $40,000 to $45,000.
How company is the low-cost provider of these boxes with fixed cost of $480,000 per year, plus variable cost of $30.00 for each box. Annual demand and marginal revenue functions for the company are.
Illustrate what was the growth rate of the GDP deflator between 2007 and 2008. What was real GDP in 2007 measured in 2000 prices.
An industry consists of three firms with sales of $200,000, $500,000, and $400,000. Compute the Herfindahl-Hirschman index.
Bob borrows $52000 from a local bank at an APR of 7.2% compounded monthly. His monthly patents are $52000(A/P, 0.6%, 54) = $1128 for a 54 month loan. If Jim makes an extra payment on the first month of each year, his repayment duration for the loan w..
According to the structure-conduct-performance framework, which of the following is not a characteristic of market structure
Is it possible to trade foreign exchanges in the future markets? How does such trading differ from the forward market?
Total revenue is defined as the product of quantity of an item sold and it price. The price of an item is given by: The total cost incurred is the sum of the fixed costs and operating costs. The latter increases as more items of a product are manufac..
Name three industries where the perfectly competitive model would be the most beneficial in analyzing behavior. Be sure to support your choices.
Joe subscribes to an Internet provider that charges $2 per hour. He has $100 per month to spend and is at equilibrium by buying 10 hours of Internet access and $80 worth of other goods. Draw the indifference curve and budget line. If the company swit..
An upward or downward movement along a given demand curve or involves an outward or inward shift in the relevant demand curve for housing.
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