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Why is representative money more useful than commodity money? A. Representative money has value because the government says it does. B. Representative money exists in unlimited supply, so more people use it. C. Representative money is portable, durable, divisible, and acceptable.
Give an example of a fairly major purchasing decision you've made in your lifetime. How did you justify the purchase.
Which of the followings tends to occur during recessions Cyclical unemployment tends to fall The stock markets tends to surge (experience a rapid rise in prices) Interest rates tend to fall Gross Domestic Product rises Consumer ..
The own price elasticity of demand for Kodak film was -2.0 and the market elasticity of demand was -1.75. Suppose that in the 1990s, the average retail price of a roll of Kodak film was $6.95 and that Kodak's marginal cost was $3.475 per roll.
Assume that the market demand for broccoli is given by Q=1000-5P and the market supply of broccoli is given by Q=4P-80 where Q is quantity per year measured in hundreds of bushels an P is price in dollars per hundred bushels.
In recent years, consumption spending by households has accounted for about 70% of the total spending (aggregate demand) in the U.S. economy.
The public's preference is to hold their money as half cash, half demand deposit. Reserve requirement is 25%. Determine monetary multiplier.
Give at least three explanations of why economic reasoning would argue that this is to be expected.
Use the above data to answer the following questions-If the price of entertainment increases by 2 percent, what will happen to the quantity of food demanded? Please be specific
Expalin why is private property, and the protection of property rights, so critical to the sucess of the market system.
The level of investment down because of a lack of confidence in the economy. Interest rates are kept artificially low by the Federal Reserve for several years.
A major cereal manufacturer decides to lower prices from $3.60 to $3.00 per 15-ounce box. If quantity demanded increases by 18 percent, determine the price elasticity of demand?
The monopoly sells two units of goods over two periods. The costs are zero. Consumer A has a valuation of 15 and Consumer B has a valuation of 10. Suppose the discount rate is ?=.8. If we allow Consumer B to have a valuation of k
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