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The common law has always allowed all adults executing a will to partially or completely disinherit all, some or none of their children, adult or minor, as they see fit. No reason must be given and absolute discretion falls to each individual parent to render such a decision. Is this just? Should children, adult or minors, receive a mandated portion of the deceased parent’s estate regardless of the wishes of the parent? What portion, if any, would you mandate?
In the Castorian Airline market there are only two firms. Each firm is deciding whether to offer a frequent flyer program.
Read "Simon Bolivar on Government in Latin America" (20-1a). In his Jamaica Letter, Simon Bolivar argues that the political and social circumstances of Latin American independece are unique. What does he mean by that? Is he convincing in his claim? W..
The data in columns 1 and 2 in the table below are for a private closed economy. Instructions: For all parts, enter your answers as whole numbers. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbe..
A firm uses two inputs, X and Y and its production function is Q = ?(xy), where here we are using x and y to represent the quantities of the two inputs. (f) What is the firm’s marginal rate of technical substitution of X for Y, at the point where it ..
A diminishing marginal rate of substitution implies that indifference curves are
Suppose the currency-to-deposit ratio is 0.2, the excess reserve-to-deposit ratio is 0.05, and the required reserve ratio is 0.1. Which will have a larger impact on the money multiplier: a rise of 0.05 in the currency ratio or in the excess reserves ..
Producer surplus is measured as the area
You have just been hired by a company as an economist and strategic planner. Your company has asked you to generate a report explaining the consequences of the market structure in which the company operates. Assume that the market structure is an oli..
Suppose OPEC members met and decided to increase their oil production (and thus lower prices) for six months. This change will cause many firms’ input prices in the U.S. to __________. This change in input prices will cause a _____________ aggregate ..
Suppose a dairy farmer in Murfreesboro is concerned with developing a minimum cost per day feed-mix from two sources, alfalfa (X) and corn (Y), which meets (or exceeds) certain nutritional requirements. Write about the objective function and constrai..
find the equation that describes the IS curve
In 2015, the U.S. federal government increased government spending (G) by $56 billion. This question has you both illustrate and explain the short- and long-run effects of these fiscal adjustments. Using the short-run model, show the impact of increa..
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