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For the closed-economy, one-period model, suppose that and where determine consumption, employment, output, leisure, and the real wage in a competitive equilibrium, and explain your solutions.
q1. illustrate which country has the most fundamentally sound monetary policy?q2. insurance agents receive a commission
Explain your answer what would happen to the value of gold if public discovered that it could simply be made at home from inexpensive materials.
In an economy where the equilibrium rate of return on assets is 5 per cent per year, suppose there are three assets A, B and M. A is an acre of land and has an annual cash flow of $50 (received at the end of the year) and is not expected to appreciat..
Consider a market with a demand curve of P=10-Q and a supply curve of P=Q. Before the imposition of a tax, equilibrium quantity is 5, and equilibrium price is $5 (verify this). If a tax of $5 per unit is placed on this market, quantity traded falls t..
In World War II, a German POW camp guard exchanged bread and chocolate with prisoners at the rate of one loaf for one chocolate bar. Inside the POW camp, the price was 15 cigarettes per chocolate bar, and 40 cigarettes per loaf of bread. Is there an ..
If we accept Marx's labour theory of value, we run into a different problem: if a working day of 8 hours creates same amount of value in a highly mechanized industry as in an industry with few machines, why do capitalists introduce machines.
NBC executives have developed a new professional sports league—the XBL (Extreme Badmiton League). The short-run production function for televised games has been determined to be Q=25L-2.25L2, where L is the number of players.
Elucidate effect does the current supply and current demand have on this product.
q1. the coase theorem suppose a firm pollutes a stream that has a recreational value only when pollution is below a
Eastern Airlines offers coach seats on its flight from Milwaukee to New York for $250. Sales have averaged 700 per day during the last year. Eastern’s primary competitor (Continental Airlines) cut their prices from $220 to $200. The quality of travel..
For what rate of inflation, both the options are equally attractive ? Describe two different methods of "Depreciation" an equipment / plant may undergo (with numerical example)
many supply shipments to retailers are interrupted during a natural disaster. Assuming that the law is strictly enforced, illustrate what are the economic effects of the price gouging statue.
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