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List down the factors that limits the ability and freedom of the consumer to determine the fundamental resource allocation.
is there a significant difference in quality and acess between for-profit and not-for-profit hospitals? what is the
The firms and workers in Alpha form expectations adaptively. The firms and workers in Omega form expectations rationally. Their otherwise identical economies are initially in equilibrium at the natural level of output with 10 percent inflation.
Illustrate what is the elasticity of demand for the product that is produced by the company.
Two indicators of economic development include Gross Domestic Product (GDP) and the Human Development Index (HDI). What is the difference between these two ways of measuring levels of economic development? Identify an advantage and disadvantage of..
1) How are scarcity, choice, and opportunity cost related? 2) What are the effects of an increase in the minimum wage in the U.S. economy? Who would be most affected?
After natural disasters, such as hurricanes, some commentators point to 'bright-side'. It is, for example, often pointed out that natural disasters reason GDP for a region to spike upward during the post disaster cleanup.
assuming the the merger in the automotive industry faces some threats and that the industry decides on self expansion as an alternative strategy, describe the additional complexities that would arise under this new scenario of expansion via capita..
Elucidate how have these policies affected the prices of the product the industry produces?
Suppose that the aggregate demand and aggregate supply schedules for a hypothetical economy are as shown in the following table.
Suppose the world price of cotton rises substantially. The demand for labor among cotton-producing firms in Texas will (decrease/ increase). The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, will (..
Your son is graduating from high school and is about to enter the work force. He has developed a strong curiosity about our economic system and how it works. Because you have a good understanding of basic economics, he has asked you to explain..
In neoclassical growth models, the sources of growth, is exogenous usually "technology". Such theoretical models hence are able to describe how an economy grows, but not why it grows. To overcome this shortcoming, several growth models have bee..
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