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Discuss what GDP is and what it measures and Discuss what the shortcomings (limitations) of GDP as a measure of well-being and welfare of a nation are?
Derive the marginal cost curve from your answer to (c) and show the relationship between the marginal cost and marginal product of labor.
Consider two countries, Canada and China. Canada has comparative advantage in oil production, and China in shoes production. Suppose China grows biased to oil production.
What is the dollar value of the dead weightloss when output level q2 is produced? what is the total surplus wen output q2 is being produced?
A nation has a lower inflation rate than all growth. What can be said about each of the following.
The Wall Street Journal reported that recent law school graduates were having a very difficult time obtaining jobs in the legal profession. Many law schools said that 10 to 20 percent of their graduates still had not found jobs.
Illustrate what effect do you think it had on learning by the industry as a whole. What factors might explain these patterns.
Suppose the U.S. economy is in a recession which came from a negative AD shock. To provide consumers with an incentive to spend more of their disposable incomes, Congress and the President pass a law making it illegal for an individual to hold more ..
Entry of firms in a monopolistically competitive industry is characterized by two "external" effects. What are these effects and how do they affect a monopolistically competitive firm. How are consumers and incumbent firms influenced by these exte..
Example of a leading macro-economic indicator - describes the implications of ecology for marketers in terms of the marketing environment?
A recent report indicatesthat nearly 50 Americans contract HIV every year through blood transfusions. Although every pint of blood donated in the United States undergoes a battery of 9-different tests,
Is it true that in a short run production process, the marginal cost curve eventually slopes upward because firms have to pay workers a higher wage rate as they produce more output?Explain your answer.
Illustrate can be said concerning eCommerce (such as Amazon and other online stores) and individual behavior vs traditional storefront retail and individual behavior.
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