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Discuss the differences between unemployment and underemployment and give examples of each. Which do you think is a more serious “problem” for the economy? How might underemployment be addressed through government policy?
The Black Death: In the middle of the fourteenth century, an epidemic known as the Black Death killed about a third of Europe’s population, about 34 million people. Use the production model to explain why wages might have been higher.
Using the national income identity find the value of imports (IM). Illustrate what is the current account balance. Illustrate what is the savings rate.
Illustrate what the reason which individuals households at some time in their lives spend more than they earn and at other times save some of what they earn.
Discuss a real world example that could, or has already, caused a shift in either the AD (aggregate demand) or SRAS (short run aggregate supply) curves for the US economy, or some other country.
In case of a Giffen good, income effect dominates substitution effect. All the points along the demand curve share the same elasticity. The marginal cost curve passes through the minimum point of the average fixed cost curve.
If the quality differences of similar products are mostly imperceptible to the average consumer's eyes, which of the following will most likely play a major role in influencing the decisions of purchasers?
Review Netflix most recent balance sheet, income statement, statement of stockholders' equity and statement of cash flows. Pay particular attention to sales and net income for the last two years. Comment on 2-3 items that you find remarkable on any o..
When an incumbent maintains a price below the monopoly price in order to prevent entry. The act of charging a low price initially upon entering a market to gain market share.
Assume that the market for wheat is perfectly competitive, with demand curve P = 5000 ? 0.01QD and a supply curve P = 1+0.1QS. Each identical wheat producer has a total cost curve given by T C = 1+Q+Q2 , which results in marginal cost of MC = 1 + 2Q...
Botulinum toxin, marketed under the brand name "Botox" is a drug that paralyzes muscles into which it is injected. It is one of the few promising treatments for migraine headaches, which affect about 10% of the population. Migraine headaches are debi..
There is a loan for 5,00 dollars with interest of 8 % annually. There is another way to repay the 5,000 dollar by making 4 annual payments of 1,000. Then what would the 5th payment be?
for each bundle that the consumer chooses, show the indifference curve that goes through that bundle. Make sure to label your graph carefully and accurately.
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