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Discuss the limitations of relying on random experiments to evaluate policy impacts. In particular, you should discuss three types of threats to the validity of experiments that are actually conducted, and two reasons that it is often not feasible to conduct random experiments in practice.
Explain the factors and mechanisms of growth, explain how governments use monetary and fiscal policy to manage the economy and use technology and information resources to research issues in principles of economics.
In October 2004 and 2005, real GDP in the United States increased by 3.6 percent, while nonfarm payroll jobs increased by only 1.4%.
Bob and Dexter share a dorm room. Bob is a smoker but Dexter does not smoke. There are no laws that prohibit smoking in the dorm rooms. The benefit of smoking is worth $250 to Bob, but the smoke imposes a $500 cost on Dexter.
What are major reasons for government involvement in a market economy such as the software industry (e.g. externalities, increasing returns to scale (failure of perfect competition), absence of futures and insurance markets, failure to attain full..
Social Dynamo Corporation earned profits last year of $49 million on sales of $500 million. During the same period, its major competitor - EIO Corp.- enjoyed sales of $490 million and earned profits of $52 million.
An insurance company is considering issuing three types of fire insurance policies: (i) complete insurance coverage, (ii) complete coverage above and beyond a $10,000 deductible, and (iii) 90 percent coverage of all losses.
such as making charitable contributions or civic expenditures (MU). Can you set up the problem and derive the optimization conditions if the owner-manager wishes to obtain a specific level of utility at the lowest possible cost.
What is a government budget deficit How does a federal budget deficit affect the economy How does it affect the level of investment and interest rates How does it affect the individual consume
If the Rhine Corporation ignores the possibility that other firms may enter its market, it should set a price of $10,000 for its product, which is a power tool.
A traditional definition of economics 'efficient utilization of limited productive resources for the purpose of attaining maximum satisfaction of human material wants.'
Assume a country that basically consumes 100 pairs of shoes per hour, all of which are imported. The price of shoes is $40 per pair before a ban on importing them is imposed.
In this larger geographic market, the firm's market share is low. Therefore, the defense claims, the firm does not have the market power necessary to carry out anticompetitive practices or to make them worthwhile.
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