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Consider an individual, a business, and a nation?
Does opportunity cost apply to all three?
Why or why not? How? Give an example for each?
Draw a market with a negative production externality. What kind of instrument (policy) do you use? What's its magnitude? What does the policy lead agents on both sides of the market to do?
What would this event cause the demand for the dollar to increase or decrease relative to the demand for the pound.
Sam sells shavers also Alvin sells after cut off. Imagine Sam discovers a new production technique that lowers his costs of production.
Suppose that an economy has the Phillips curve. What is the natural rate of unemployment? Graph the short-run and long-run relationships between inflation and unemployment. How much cyclical unemployment is necessary to reduce inflation by 5 percenta..
Consider a static (one-period), closed economy with one representative consumer, one representative firm, and a government. The level of capital K and government expenditures G in the economy are both fixed exogenously. Formally define a competitive ..
Suppose that capital per hour of work grows by 3 percent and technology grows by 1 percent over a one year interval. What is the growth rate of real GDP per hour of work? Show the formula and all work. To understand what causes productivity growth, w..
The data is listed per quarter, and real GDP data was calculated using 2005 as the base year. Fill in the columnns for the GDP deflator and for the percent increase in price level.
Smith suggests that division of labor leads to increased production through three different avenues. Explain. Smith argues that in civilized society, humans rely at all times on the cooperation and assistance of others. How do we appeal to others for..
Discuss why black Monday, the day when the djia declined more than 20% is not evidence against the efficient market hypothesis. What issues do critics cite when discussing why sarbanes-oxley has let to a decline in USA capital markets?
In contrast to the federal government budget of the US, the budgets of the individual states
Frequently result from radioactive transportation accidents due to the large number of such shipments
What are some examples of how business intelligence (BI) helps organizations make decisions? How does a BI dashboard aid in the decision-making process?
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