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For this assignment you need to identify and describe three differences between macroeconomics and microeconomics. For each of the three examples, give one of the following to help illustrate the difference between microeconomics and macroeconomics: the type of question that an economist might ask in macroeconomics as opposed to microeconomics, the data that might be collected by a macroeconomist, the type of decision that must be made at a macroeconomic level. A good essay would have at least 100 words for each part of this assignment (at least 300 words total)
Indicate whether each of the following involves an upward or downward shift in the long run average cost curve or, instead, involves a leftward or rightward movement along a given curve. Also indicate whether each will have an increasing, decreasing,..
Suppose that your city government is interested in reducing littering. Currently, there is a $100 fine for littering and there is a 10 percent probability of being caught if you litter. If litterers are risk averse, which policy would lead to a large..
How is corporate venturing used as an aid to search for innovation opportunities? Explain the relationship of the organization’s strategic plan and vision statement to the corporate venturing methodology.
What is output that should be produced to achieve economic efficiency and the value to society for correcting the externality.
Lets assume that we admitted more students this semester (1200) than last (1100) and because of it there is a shortage of “B” parking spaces. Students also complain about the parking permit price ($100).
As the number of firms in an oligopoly increases,
Classical economists struggled with the "Water-Diamond Paradox" which seeks an explanation for why water (which is very useful) has a low price, whereas diamonds (which are not particularly important to life) have a high price.
Calculate the price elasticity for each of the following combination of price and quantity supplied. In each case, determine whether supply is elastic, inelastic, perfectly inelastic, or unit elastic in each case. (a) Price falls from $2.25 to $1.75;..
1.consider a macroeconomy was initially at equilibrium level of real gdp. using an aggregate demand and aggregate
q. throughout history the most popular form of money has been gold.a. give three reasons why gold has been such a
If the rate of money growth and the growth rate of the real GDP were the same in both countries, the explain how would the rate of inflation differ among them.
During World War II, both Germany and England had plans for a paper weapon: they each printed the other's currency, with the intention of dropping large quantities by airplane. Explain why might this have been an effective weapon.
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