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One of the most debated areas in economics is balancing the budget. The major contention is on the timing of the policy.
If the government were to operate under a strict balanced-budget rule, what do you think would it have to do in a recession? Should it follow the strict rule? Would that make the recession more or less severe? Why?
Illustrate what are the highest also lowest payments from the writer that the beekeeper farmer team will accept for the sixth day.
International trade has many tradeoffs for each country. Overall, what has been the global trend in trade policies from 1950 to 2000?
If this price floor is implemented, how many units of pork will the government are forced to buy to keep the price at $2.25.
The ratio of total productivity to the total quantity of a variable input being used in production is. In the long run all production inputs are variable. Decreasing returns to scale prevail when output increases by a proportion that is smaller than ..
The Sterling Corporation makes and sells motorcycles. The total cost of each cycle is the sum of the costs of frames, assembly, and engine. The firm produces its own engines according to the following cost equation: CE = 250,000 + 1,000 q. What is th..
The Coase theorem suggests that efficient solutions to externalities can be determined through bargaining. Under what circumstances will private bargaining fail to produce a solution? Explain with a creative and unique example.
Consider a decisionmaker who is choosing how many apples to buy. His choice set is {0, 1, 2, 3, 4, 5, 6} (the store has only 5 apples). (a) Suppose the decisionmaker always wants as many apples as possible. Find a utility function that represents thi..
To differentiate its product a monopolistic competitive firm will engage in all of the following advertising practices EXCEPT
If the prices of gold and other commodities increases how will this influence the value of rand. Explain how will a depreciation of the rand influence our exports and imports.
1. know how to do the staticdynamic efficiency problem.suppose the marginal benefit and marginal cost of extracting a
You are a novelist who has been published several times. None of your books have been a great commercial success, but you have established a fine reputation as a writer, and you make a decent living. Your agent works for a well-known agency which rep..
Explicates how the factors determining resource demand differ from those determining product demands.
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