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Q. Education Economics
Please discuss the role "scarcity" played in your pursuit of a college degree. Did you engage in what economics calls "rational behavior" and how does your choice reflect "self- interest"?
Please discuss the idea of trade-offs (cost and benefit analysis) when answering the above question.
Assume that the Bank of China wishes to peg the rate of exchange of its currency, the yuan, in terms of the US dollar. In each of the following situations, should it add or subtract from its dollar foreign exchange reserves? Why?
Engineers at the national research laboratory built a prototype automobile that could be driven 180 miles on a single gallon of unleaded gasoline.
The CEO of a major automaker overheard one of its division managers make the following statement regarding the firms's production plans:
Why is it not surprising to find that in an oligopoly which sells a basically undifferentiated product like chicken growth hormone all the firms change prices simultaneously, even if there is no explicit price fixing?
Suppose you are an advisor to President Obama. Illustrate what fiscal policies would you put in place.
Suppose that the software market currently has only one firm operating - microhard. A new firm Newvell could enter the industry.
Assuming a linear demand relationship determine the demand equation for cigarettes. Show all your calculations. Determine the nature of the Return to Scale as exhibited by the above production function.
Write down the relationship between savings, capital formation, and consumption.
Elucidate is the fiscal policy expansionary or contractionary.
Why is the money multiplier in the United States smaller than the inverse of the required reserve ratio? Provide one (1) reason. Explain why depositing cash into a checking account does not change the money supply. Provide at least one (1) supporting..
Draw a bowed-out production possibilities curve (PPC or PPF) with an aggregate measure of medical services, Q, on the horizontal axis and an aggregate measure of all other goods (and services), Z, on the vertical axis.
The largo publishing house uses 400 printers and 200 printing presses to produce books. A printer's wage rate is $20, and the price of the printing press is $5,000.
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