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1. If you receive a free ticket to a concert, what, if anything, is your opportunity cost of attending the concert? How does your opportunity cost change if miserable weather on the night of the concert requires you to leave much earlier for the concert hall and greatly extends the time it takes to get home afterward? 2. Describe how the Production Possibilities Curve (PPC) changes for a nation facing increasing opportunity costs for producing food and video games given the following events (Hint - for each of the products (food and video games) does the production of each product increase, decrease, or have no impact): a.) A new and better fertilizer is invented. b.) Immigration occurs, and immigrants’ labor can be employed in both the agricultural sector and the video game sector. c.) A new programming language is invented that is less costly to code and is more memory-efficient, enabling the use of smaller game cartridges. d.) A heat wave and drought result in a 10 percent decrease in usable farmland.
Is the student’s analysis correct? Illustrate your answer with a demand and supply graph. Based on Martin Peers, “Future Shock for Internet Ads?” Wall Street Journal, February 17, 2009.
Should a company hire temporary workers or hire new workers to handle increase demand for the company's product.
Illustrates what have presidents justified under principles of "immediate needs of nation" and a mandate from people.
Suppose that a firm has "pricing power" and can segregate its market into two distinct groups based on differences in elasticities of demand.
Illustrate what is the effect of Westland's expansionary monetary policy on Eastland's nominal exchange rate in the short run and in the long run.
Elucidate however, was 3 percent in Finland also 1.8 percent in France. From this we can conclude that France's every capita GDP
The United Nation's Department of Economic and Social Affairs, Population Division, tracks the total number of foreign-born people by nation.
If we accept Marx's labour theory of value, we run into a different problem: if a working day of 8 hours creates same amount of value in a highly mechanized industry as in an industry with few machines, why do capitalists introduce machines.
Explain how do you calculate the actual dollar reserves that must be kept on hand. What activities are responsibilities of the Federal Reserve.
Explain how much is the dollar overvalued/undervalued. What do you predict the U.S. real exchange rate with the United Kingdom will be in one year's time.
Illustrate what has been happening to wheat prices and what is likely to happen to wheat prices over the coming months.
Moldovan authorities declared not only once that y want to sign an agreement with IMF that would not envisage Moldovas financing. Can fund accept such a scenario.
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