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Discuss how opportunity costs relate to Japan's cleanup efforts after the devastating earthquake/tsunami of March 2011. Begin the discussion by defining "opportunity costs." Then make a list of actions the Japanese government must accomplish to restore the economy and provide health and safety to the citizens. Keep in mind the limited resources available and priorities of each restorative action. What are the opportunity costs of each action?
while a dairy farmer has a horizontal demand curve? What other suppliers might face a downward-sloping demand curve and what implications does this have for their advertising budget as compared to suppliers with horizontal demand curves?
Why does a temporary increase in the real wage increases the amount of labor supplied, but a permanent increase may decrease the quantity supplied. Condiotions of this too happen too.
Construct a production possibilities curve for a hypothetical country. Put public capital goods per year on the bertical axis and consumer goods per year on the horizontal axis.
the comparison of the percentage of change in the one variable divided by the percentage change in the other variable. An analytical technique utilized to show best case scenarios of demand and supply curves.
According to the quantity theory of money, what is the effect of increase in quantity of money?
Taco Bell gives free tacos from 2 - 5pm. Suppose they make 500 tacos per hour and total costs are $1000. Assume the firm is operating at minimum costs.
Tickets cost $5 to play, and you get to pick a number between 1 and 20. If you guess right, you win $100. If you guess wrong, you win nothing. In either case, you must pay the $5 to play. What is your expected payoff if you play this game
The total annual output of the U.S. economy measured at the third quarter of 2010 was $13,278.5 billion. The total number of people employed as of December 2010 was 139,206,000.
a) Should the Federal Reserve Board focus exclusively on the problem of inflation b) What other goals are appropriate for Federal Reserve policy c) What is the appropriate goal for the inflation rate d) How effective is Federal Reserve monetary polic..
How would you conclusion change for the winter months, if bad weather makes it likely for traffic jams on the highway to increase to 6 days per month?
Compute total revenue, marginal revenue, marginal cost, and average total cost of this natural monopoly. What is the profit maximizing output and price for this natural monopoly when the government does not regulate it?
1. a relaxation of u.s. immirgration laws and regulations woulda. further reduce wages in poorer countriesb. turn
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