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Month/Year Unemployment Rate July/1958 7.5% August/1958 7.4% September/1958 7.1% October/1958 6.7% November/1958 6.2% December/1958 6.2% January/1959 6.0% February/1959 5.9% March/1959 5.6% April/1959 5.2% May/1959 5.1% June/1959 5.0% Which of the following describes the economic performance of the United States in the twelve months listed above? A. Expansion B. Recession please explain
A market is characterized by a demand curve that can be expressed as P = 3000 – 10 Q. Each of the two identical firms currently serving the market has a total cost function of the form C = 250 q. There are no fixed costs. Explain how your payoff matr..
Give an economics analysis of that liability standard for product-related harms.
The coach wishes to Conclude how to assign four swimmers to the four different strokes to minimize the sum of the corresponding best times.
What is the mechanism by which the "invisible hand" pushes markets to equilibrium? Explain the two main causes of market failure and give an example of each. What is the difference between a positive and a normative statement? Give an example of each..
Why do cotton growers spend billions of dollars to dam rivers and transport water hundreds of miles to grow cotton in California deserts?
Think of one situation in which the Government is actively involved with the purpose of changing an outcome in the appropriate market. Do you agree that the Government should be involved? Why or why not?
You want to buy a new car. You plan to borrow the entire purchase price of $25,000. Dealer offers two choices: (i) an immediate $1500 rebate and financing at the regular rate of 7.2% APR for 48 months, or (ii) low percentage financing for 48 months. ..
If a nation has no absolute advantage, then it? A) cannot gain from trade B)can still gain from trade C)can only gain from trade if it raises its productivity D)can only gain from trade if it reduces wages paid E)can only gain trade if it produces ou..
Define the real interest rate, r. Why does it differ from the nominal interest rate, i, in the presence of inflation? Why does the actual real interest rate, r, generally differ from the expected real interest rate, r^e? How does this relation depend..
What determines whether or not a resource is scarce? Why is the concept of scarcity important to the definition of economics? Discuss the impact of rational self-interest on each of the following decisions. Suppose you go to a restaurant and buy an e..
A risk-neutral consumer is deciding whether to purchase a homogeneous product from one of two firms. One firm produces an unreliable product and the other a reliable product. At the time of the sale, the consumer is unable to distinguish between the ..
In 1191, Three-year old Douglas Moore was playing with one of BIC’s lighters. While playing with the lighter, he started a fire that severely injured his 17-month-old brother. BIC Manufactures Inc. Included several child-safety warning labels on thei..
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