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Why is economics a science of choices? Explain the kinds of choices confronting workers and employers in labor markets. Distinguish between microeconomics and macroeconomics.
Assume that marginal propensity to consume is constant at 1/2 and breakeven point is $8,000. If income is $10,000, n how much will be consumed and how much will be saved.
Which strategy offers both Westinghouse and General Electric the best financial outcome. Among which of the following is an example of a good with an inelastic supply.
The demand for MICHTEC's products is related to the state of the economy.
The European Central Bank (ECB) has been known for setting strict inflation targets (in other words, the monetary policy has been oriented towards maintain price stability).
Suppose, Worker 1 has a reservation price of 41 cents; worker 2’s reservation price is 42 cents; worker 3’s reservation price is 43 cents, and so on. There are 150 jobs in firms without air purification systems, and this number is fixed. Thus, the de..
You will submit a 2 page paper based on an article about an economic topic. The paper should be a summary of the article and then analysis of the economic principles discussed (Supply & Demand for a product, Elasticity of a certain product, or analys..
If you had to create an instrument that measured the prosperity of a nation, Illustrate what would be the three most important aspects of the society you would include.
An industrial firm can purchase a special machine for $22,000. A down payment of $2,500 is required, and the balance can be paid in 5 equal year-end-installments at 14% interest on the unpaid balance. As an alternative the machine can be purchased fo..
Imagine working at the Trading Desk at the New York Fed. Explain whether you would conduct open market purchases or sales in response to each of the following events. Justify your recommendation. The latest FOMC Directive calls for an increase in the..
q.imagine that e-markets is a company that implements a competitive market in mp3 players. based on information which
There are many brands of laundry detergent, all equally effective. Would you expect the elasticity of demand for any particular brand to be high or low? Explain.
a farmer has a production function fl where the input is capital l. the cost of this loan is l1i. the farmer also has
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