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If you have a private-ownership right to something, what does this mean? Does private ownership give you the right to do anything you want with the things that you own? Explain. How does private ownership influence the incentive of individuals to
(a) take care of things,
(b) conserve resources for the future, and
(c) develop and modify things in ways that are beneficial to others? Explain.
Explain how the price of a product is determined. Analyze how a bartender would know that the price of an exotic drink was too low or too high. Provide adequate conceptual justifications.
The company estimates the probability of no damage to be 0.60, the proof damage between $0 and $10,000 to be 0.25, and the probability of damage between $10,000 and $25,000 to be 0.12. If the company wants to make a profit of $200 above the expect..
The population proportion of economists predicting growth of at least 2.5% in real gross domestic product. The variance of the sample proportion of economists predicting growth of at least 2.5% in real gross domestic product.
The market for corn is currently in market equilibrium. Graph this situation. On your graph show what happens to the quantity of corn and the price in the market as the use of ethanol fuels becomes more widespread at the same time that a drought d..
ist one industry that is an example of aperfectly competitve industry and one that is an example of amonopoly. Explain and discuss why these industries are examples of perfect competition and a monopoly using the characterstics of these industries..
particularly on the retail end where drug dealers sell the drug to consumers in the U.S. What would you predict would happen to the economic profits of the drug dealer? Suppose the family in South America form a cartel What is the result of the ca..
Explain the following statement: Any deviation from planned output or planned expenditures (Consumption + Investment) will throw the economy into disequilibrium.
Calculate the mean and standard deviation of 1-year and 20-year Treasury Constant Maturity Rates data series. Using the graphs and the results
discuss the differences between the microeconomic definitions of supply and demand and the macroeconomic differences of aggregate supply and demand. Discuss what determines supply and demand and aggregate supply and aggregate demand.
1.Consider two metropolitan areas, one that has many small school districts and one that has only a few large school districts. In a paragraph, what are the efficiency and equity effects of introducing a voucher system likely to differ across these t..
Explain the difference between fixed-production technology and variable-production technology. Should the government set a goal of reducing the marginal social cost of pollution to zero in industries with fixed-production technology Should they d..
The money multiplier process gives us an idea of the maximum possible expansion in the economy's money supply. Can you think of a reason why the money supply might not expand to the maximum possible extent Think of some of the events that have occ..
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