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Would these be true or false and why? -a consumer with positive marginal utility for each good will always choose a bundle on her budget line. -if darren views milk chocolate and dark chocolate as perfect substitutes, then he buys whatever is cheaper. -Rita has well-behaved preferences over steak and fries. at her current consumption bundle of 3 steaks and 10 fries, her marginal rate of substitution between steak and fries is 1/2 (in absolute value). if you offered to take away one fry and give her a steak, she would take that offer.
Illustrate what are the pros and cons of regional trade areas such as the European Union and NAFTA.
Use the expenditure approach to comput GDP. Use the income approach to calculate GDP.
Using the following schedule, define the equilibrium price and quantity. Explain the situation at price of $10. What will occur? Discuss the situation at a price of $2. What will occur?
Provide reasons why monopolists do not exhibit resource allocative efficiency. Why monopolists cannot obtain any price they wish.
Does the structure of global economy permit poor nations to catch up with rich ones? Is the Solow model a useful framework for understanding whether poor nations tend to catch up with rich ones?
Real money demand is greater than the real money supply, interest rates must rise to reach equilibrium in the money market as people sell bonds to obtain more money.
Use Excel program to estimate of the state's demand for KBC microbrews in Ohio. Print (past) the computer regression output and provide an economic interpretation of the regression results.
Illustrate what is the impact of these ratios on the level of new money that can be created given a $100,000 cash deposit into the banking system.
Assume that there are 2-states that do not trade, Iowa and Nebraska. Each state manufacture the similar two goods: corn and wheat.
Include an evaluation of the impact of past and current budget deficits or surpluses on the United State economy and on the airline industry.
They produce fewer pounds of choice meat per carcass. More than a third of the animal is ground up into buffalo burger, meat too lean to make good patties.
As per increases in population and income growth that expanded demand for housing, the price of existing houses barely increased. Why. Illustrate answer with supply and demand curves.
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