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Describe the demand model and its purpose. Describe the supply model and its purpose. Some important questions need to be answered in your description. Why is the demand curve sloped down and what law describe this downward slope? Why is the supply curve upward sloping? What is the difference between change in demand and change in quantity demanded? List the determinants (demand shifters) that will shift the demand curve, "change demand". List the supply shifters. If demand and supply shifters shifts the demand and supply curve, what is the only variable change that will cause a movement along the curves instead of a shift in the curves (variables to consider is price, quantity, demand or supply shifters).
Write down a utility function that represents Britney's preferences over dresses also hats.
The market supply curve for a perfectly competitive, constant cost industry is
Write down an expression π(q ) for profits as a function of q. Find profit-maximizing choice of q for Smith and corresponding price and profit.
If the Social Security retirement system was a private retirement system, it would be declared bankrupt. Discuss why this is so and why the Social Security system can continue to pay benefits despite the fact that it can be considered bankrupt. Discu..
Authoritarian persistence can be can be demonstrated by: Which of the following polities is sometimes considered a good example of a “competitive authoritarian” regime? Which theory is most closely associated with the scholar Barrington Moore?
Which of the following is likely to contradict Samuel Huntington's idea that Mexican migrants to the US may not have an "Americano dream?"
Assume the tax multiplier is estimated to be 1.6 and the aggregate supply curve has its usual upward slope. Suppose the government lowers taxes by $138 million. Will aggregate demand increase or decrease and by how much?
We saw that a $10 Billion increase in government spending decreases public savings and therefore reduces national savings, and will reduce equilibrium private investment and increase interest rates as well. A $10 Billion tax cut will decrease governm..
Since then, Walmart, as one of the main importers of the Chinese products to the United States, has become the largest retailer in the U.S. and the largest corporation in the world. Has this trade agreement helped or hurt the United States? Discuss t..
Chipotle Mexican Grill, the American Mexican food chain restaurant, opened its first restaurant in the United States in 1993. In 2010, Chipotle opened its first restaurant in the United Kingdom in London on Charing Cross. Why has this successful U.S...
A micro economist might study which of the following?
What is the value of GDP, as calculated from the expenditure side?
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