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Q. Pharmaceutical drugs have an inelastic demand, as well as computers have an elastic demand. Suppose that technological advance doubles the supply of both products (that is, the quantity supplied at each price is twice what it was).
a. What happens to the equilibrium price and quantity in each market?
b. Which product experiences a larger change in price?
c. Which product experiences a larger change in quantity?
d. What happens to total consumer spending on each product?
Show how the transaction would have been recorded in the German balance of payments accounts. What was the net effect on the German balance of payments.
How would a downward change in the money supply affect you personally. How would it affect your career. What impact would rational expectations have on your decisions in this situation.
Demand curve is d1, what will be the change in her revenue. If her demand curve is d2 what will be the change in her revenue.
Substantive responses use theory, research, and experience or examples to support ideas and further the class knowledge on the discussion topic.
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Refer to the Real Estate data, which reports information of homes sold in the Goodyear, Arizona, area during the last year. Prepare a report on the selling prices of the homes.
James earned $10,000 in income in his new job in Nova Scotia after the move and his employer paid him $1,000 specifically to cover the cost of the move, but doesn't specify what it can be used for.
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Explain how are protectionist policies from other nations predicted to affect China's relative supply and relative demand.
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