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Ref Adam Smith Wealth of Nations. first 3 chapters. How can I make SMITH'S concepts of exchange, self interest and divided labour apply to my college education?
"It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest." Could we apply this idea to the context of your education at the College, and are the incentives involved effective?
Once a project is evaluated to be "acceptable" how does (or should) your organization rank projects that should be attempted?
Define economics. Then compare microeconomics and macroeconomics. What are main differences in topics discussed in these two path of economics?
Consider this claim: “Markets are a good way to organize an economy as they guarantee that the allocation of resources in an economy will be efficient”. Define what is meant by an efficient allocation, then with the aid of graphs and accompanying int..
Illustrate what type of economic flow would be illustrated by the purchase of a Mexican candy-making factory by a U.S. corporation.
A consumer has utility function given by u(x1, x2) = √ x1x2. Suppose the price of good 1 falls from $5 to $2, while the price of good 2 and the consumer’s income remain constant at $10 and $100, respectively. Find the substitution, income, and total ..
Keeping all else constant, their answer would likely differ. How do you guess the interviewed will answer? Does the difference in response matters? I
Suppose that the economy has entered into a recession, and you are asked to determine whether it has been caused by a demand shock or a supply shock.
Explain how Task Rotation Strategy allows the teacher to pay attention to the each of the four types of mathematics learner. Which student abilities are involved when students achieve representational fluency in the study of functions.
What should have happened to their real wage. Given a constant MPL, barbers should have experienced no wage change. D. In what units is real wage in part.
Rent controls force landlords to price apartments below the equilibrium price level. An immediate effect is a shortage (excess demand) of apartments, because the quantity of apartments demanded is greater than the quantity supplied at the regulated p..
Which of the following statements about the monopolistically competitive market, in the long run, is true?
illustrate what are short-run and long-run effects on aggregate price level and aggregate output. There is an increase in taxes on households. There is an increase in quantity of money. There is an increase in government purchases.
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