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Mike, Bill and Ed have different preference levels for their support for military spending on overseas operations. Mike is a hawk and his preferences are ranked in order: high spending, medium spending, low spending. Bill is a moderate and his preferences are ranked in order: medium spending, low spending, high spending. Ed is a pragmatist. His preference is for limited spending but if we have to engage he believes we should go "all in" and thus his preferences are ranked in order: low spending, high spending, medium spending. Explain in detail how this voting situation would not lead to political equilibrium. show the rounds of voting as was detailed in class). Explain what the implications are for government decision-making in this decision context.
Discuss all of the Pros and Cons of making the decision to buy a new car and we require to consider about macro & microeconomics and any other psychological, sociological or business concepts that may affect the decision.
Purpose the market demand curve for a product
Determine the two equal deposits, the first deposit required now and the second deposit at the end of year 6, so that you can withdraw $2,000 at the end of each year for the next 12 years. Assume that money earns 4% interest, compounded monthly. T..
1. the owner of a tropical forest harvests timber so as to maximize his own profit from the land. this forested land
When obama was campaiging for president in 2008 he proposed more government spending paid for with higher taxes on the rich. What impact would those options have on the equilibrium?
Compute total revenues, total expenses, and profits both before and during the strike and Who was better positioned to endure the strike?
Now suppose there is another country called Lotech which has not seen the innovations in credit cards and ATMs that Hitech has. If the rate of money growth and the growth rate of real GDP were the same in Hitech and Lotech over this period, then h..
Find the equilibrium price and quantity for this market and Draw the budget constraint between "leisure hours" on the horizontal axis and "wage income" on the vertical.
In what particular ways (if any) does a college education increase a worker's productivity? Take some special care with this problem.
what is the relationship between economies of scale and a natural monopoly? what is simultaneous consumption and
1. Many ethical thinkers have called for a worldwide ban on all forms of human cloning. Do you agree with the this argument Could we realistically allow therapeutic cloning but ban human cloning
Inflation is at 1.2% and relatively stable at the level. The GDP is at $13.6 trillion. Assume that you are on the Council of Economic Advisors which is the group that advises the President on economic policy issues.
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