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1. What distinguishes money from other assets in the economy?
2. What are demand deposits, and why should they be included in the stock of money?
3. If there was no item in the economy widely accepted in return for goods and services, how would transactions be carried out in this economy? How efficient would such a system be?
Assume that the soft coal industry is a competitive industry and it is in long run equilibrium. Now assume that the firms in the industry form a cartel.
Explain how a change in investment can have big impact on GDp causing nationwide slump. Recall that investment is "small' relative to the whole economy.
Describe the following statement: "In competitive market the least-cost production methods are revealed by entry and exit, while in public utility regulation they're revealed by commission rate hearings. It is easier to fool commissi..
Finding the short run and long run profit maximizing price - quantity and number of firms in industry.
Use the IS/LM model and the IS-PC-MR model to explain what monetary policy to pursue.
Assume that Florida migrant workers are effectively unionized. What will be the impact of unionization on?
The supply curve for labor is S L = 100W, where W is the market wage. The marginal revenue product curve for the firm is D L = -50W + 450.
What is opportunity cost? Explain with the help of an example, why assumption of constant opportunity cost is very unrealistic? Explain law of demand with the help of a demand schedule and demand curve.
Describe the effects of monetary policies on the economy's production and employment.
Dr Leona Williams a well know Plastic Surgeon, has reputation for being one of best surgeons for reconstructive nose surgery. Dr Williams enjoys a rather substantial degree of market power in this market. She has estimated demand for her work to b..
Fill in the table indicating whether the new Each row and column heading describes a shock to a market initially in equilibrium. Fill in the table indicating whether the new equilibrium price and quantity will increase, decrease, or not change.
Explain why competitive markets normally lead profit maximizing firms to make choices about resource use that lead to an "efficient" allocation of resources to the market?
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