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Consider the market for strawberries. Which of the following statements likely applies to the strawberry market?
a. The income elasticity of demand for strawberries is negative.
b. The price elasticity of supply of strawberries is greater in the short run than it is in the long run.
c. The price elasticity of demand for strawberries is lower in the long run than it is in the short run.
d. The cross-price elasticity of demand for strawberries with respect to raspberries is positive.
How might budget deficits affect long-term economic growth?
1) What affect do you think a heavily fragmented disk has on the performance of Sequential and Random access methods?
Economist George Stigler once wrote that, according to consumer theory, "if consumers do not buy less of a commodity when their incomes rise, they will surely buy less when the price of the commodity rises."
What are the pros and corns of a market economy in comparison with a command economy.
Illustrate what is the point price elasticity for each person and for the market.
What is the relationship between inflation and unemployment? What would happen to inflation if the unemployment rate would decrease? Make sure to explain your analysis.
Assume there are only two automobile companies, Ford and Chevrolet. Ford believes that Chevrolet will match any value it sets, but Chevrolet too is interested in maximizing profit.
Congressional action taht allows oil drilling operation in more areas of the Alaska preserve.
Define the shows of the relationship between the quantity supplied of a good and its price when all other things remain the same.
Determine the GDP price index
2) Refer to table above. Consider a simple economy that produces only three products: burritos, flashlights, and golf balls. Use the information in the table to calculate the inflation rate for 2013 (vs. 2012), as measured by the consumer price inde..
Describe the extent to that you believe these three measures are related.
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