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Defines and explains a closed system and provides an example. Defines and explains an open system and provides an example. Explains the inner and outer flows of a closed system. Explains the inner and outer flows of an open system. Defines and explains leakages in an open system. Defines and explains injections in an open system. Provides a personal example of a leakage describes it and explains it. Provides a personal example of an injection describes it and explains it.
If Michelle devotes all her resources to growing potatoes, she can raise 200 pounts of potatoes per year. If she devotes all her resource to raising chickens she can raise 50 chickens per year. (If she apportions some resources to each
A firm produces according to the following production function: Q=k^.5L^.5 where q= units of output, k= units of capital, and L= units of labor. suppose that in the short run k=100. moreover, wage of labor is w=5 and price of the product is p=10. wha..
Why might a profitable motel shut down in the long run if the land on which it is located becomes extremly valuable due to surrounding economic development?
A method commonly used through both governments and private health insurers to control the growth in private health insurers to control the growth in health care expanding are limits to reimbursement to providers.
1)List the components of the LAMP stack. which commerical products do these components compete with 2) Define cloud computing 3)Describe the shift in skill sets required for IT workers that is likely to result from the widespread adoption of cloud ..
On December 29, the cost of a skiing trip to Finse, Norway, was 6,500 krone. Two weeks later, the American dollar appreciated against the Norwegian krone. If the price of the trip in Norway remains the same: A)an American skier living in Florida will..
Consider the situation of the US debt and deficit? Explain the problem. Is the deficit and the debt a problem to be dealt with or not? Explain. Why do those who worry say it is different from the World War II debt?
Compute and contrast the way Keynes and Friedman approach the economy. What are the key differences and similarities.
Calculate what level of output this monopolistic competitor should produce if he/she wishes to maximize profits.
What is the real mortgage interest rate in 2001, 2002, 2003 and 2004, what are the values in 2000 dollars of Nancy's monthly mortgage payments in 2001, 2002, 2003, and 2004?
Describe three ways we can use macroeconomic analysis, with one original example for each way
Show whether each of the following statements is true or false, and explain why.
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