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Do some research on the country of Ethiopia and discuss:
1. Who in the Ethiopian society has the most difficult time dealing with scarcity?
2. What do they need most?
3. How can their society provide for their wants and needs?
4. Why are they so impoverished?
5. What can their governments do to help, or hinder their country's development?
6. Could not Ethiopia become a world class producer and exporter of goods? How would Ethiopia compare with Japan? Japan is a country relatively POOR in natural resources, yet it is an economic world powerhouse. What are the differences between the two countries?
Beer and pizza are compliments because they are often enjoyed together. When the price of beer rises, what happens to the supply, demand, quantity supplies, quantity demanded, and the price in the market for pizza.
Suppose the airline industry consisted of only two firms: American and Texas Air Corp. Let the two firms have identical cost functions, C(q) = 40q. Assume that the demand curve for the industry is given by P = 100- Q and that each firm expects the ot..
Exchange in an island economy.robin and terry are stranded on a deserted island and consume two products, coconut and fish. In a day, robin can catch 2 fish or gather 10 coconuts, and terry can catch 1 fish or gather 1 coconut.
How many nurses does National Hospital employ, and what wage will National pay its nurses, what is the deadweight loss arising from monopsony?
When someone owns an asset (such as a stock) that rises in value, he has an "accrued" capital gain. If he sells the asset, he "realizes" the gains that have previously accrued. Under the U.S. income tax, realized capital gains are taxed, but accru..
explain the following statement any deviation from planned output or planned expenditures consumption investment will
1. assume that a firm has a total product curve given by q 2kl.a graph the total marginal and average product curves
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suppose the economy were very strong and unemployment very low. wages after inflation rise for most americans by about
Imagine that your city is planning to build a waste recyclingplant in your neighborhood. What are the ethical and practicalconsiderations for making this decision How would your concern forthe environment affect your view on this action
1. what is the legislationpolicy that will be analyzed in this paper?2. what is the problemissue that this legislation
What are some explanations for the coordination failures that prevent workers and employers from reaching agreements?
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