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When strung together, create an accurate definition. Canada's Nominal Gross Domestic Product (GDP) can be defined as: a.sold on the black market by the residents of Canada. b.produced by Canadian\'s located in non-Canadian countries. c.produced within the political boundaries of Canada. d.legally sold by the Canadian government.
Business has only one social responsibility-to make profits (as long as it stays within the legal and moral rules of the game establised by society). Few trends could so thoroughly undermine the very foundations of our society as the acceptance by..
Suppose, as we did in class, that consumers live for two periods and can either consume, save, or pay taxes with their income. Derive the lifetime budget constraint for the individual. What kinds of things can we say about the lifetime budget constra..
Suppose that Ellen has $I to spend on goods x and y: The price of good x is px and the price of good y is p y: Write down Ellen's budget line and draw it. Indicate the slope, as well as the vertical and the horizontal intercept.
A study of the relationship between age and various visual functions (such as acuity and depth perception) reported the following observations on area of scleral lamina (mm2) from human optic nerve heads ( Morphometry of Nerve Fiber Bundle Pores in t..
A bakery currently sells chocolate chip cookies at a price of $16 per dozen. The marginal cost per dozen is $8. The cookies are becoming more popular with customers, and so the bakery owner is considering raising the price to $20/dozen. What percenta..
You are an aide for the Senate Banking Committee Chairman. He comes to you with a bill that proposes setting limits on what ATM owners can charge non account holders, over and above what banks charge their own customers. The Senator asks you to look ..
What kind of economies come from reductions in cost due to adoption of technology that has high fixed costs, but lower variable costs?
if the required reserve ratio is 10 percent, what is the monentary multiplier? if the monetary multiplier is 4, what is the required reserve ratio?
If the government announced that they were going to reduce the income tax next year, financed by finding a large and previously-unknown warehouse of real goods. What would happen to labor? To consumption? If the government announced they were going t..
Using an example explain why negative externalities lead to inefficient overproduction and discuss one way government can ensure a more efficient outcome. Discuss using an example what are public goods and why does it lead to a free rider problem.
When the work was complete, Chuckrow paid Gough the original contract price but refutilized to pay him for the additional cost of reerecting the trusses.
Is the china dishes a personal property? What is a personal property? Do Marlene waver her ownership rights by abandoned the dishes at a dump site? Does Joe have new owner rights to the china dishes when it was found at the dump site?
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