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Economics - Functions of Money and How inflation undermines
What are the three basic functions of money? Describe how rapid inflation can undermine money's ability to perform each of the three functions.
Consider a firm that has just built a plant, which cost $20,000. Each worker costs $5.00 per hour. Based on this information, fill in the table below:
For an unknown reason, aliens kidnapped all immigrants residing in the US. One morning America wakes up and finds that the only people left in the country are American citizens, while all legal and illegal immigrants are gone.
Elucidate three arious ways in which the Federal Reserve would change the money supply.
Illustrtae what are the nominal rates of interest for both the United States and the euro area?
Fewer potatoes are demanded when the price of rice has fallen from $ 0.25 to $0.10 cents per pound-The Molly Jock wants to buy a high definition television to watch the Olympic Greco roman wrestling competition in Beijing.
Show that the government can achieve the social optimum by setting the correct tax prices a, b, and c. What prices should it set?
Explain demand for cassette players is price elastic also they are cyclical normal goods.
An increase in input prices for rice production; and an improvement in rice production technology. Use diagrams to analyze the effects of these changes on equilibrium price and quantity.
What might be included in the "total cost" of acquiring and watching movie on DVD? What about the "total cost" of seeing a movie at the multiplex?
Explain how the locations of each of the four curves graphed in question 7b would be altered if (1) total fixed cost had been $100 rather than $60, and (2) total variable cost had been $10 less at each level of output.
Suppose the government is concerned that the going wage rate of $6 per hour for low skilled workers is too low.
Explain how an individual's Demand curve for medical care will change (i.e., shift) if the following things happen (consider each change individually, holding all other possible influences constant.
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