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1. Why is U.S. economic growth important to the average American and what is the best way to measure standard of living of the average person: (use unemployment rate, inflation, & GDP in your answer)?
2. Does economic growth ensure all members of a society will be better off? explain.
Does the heavy crude have lower or higher value from the base crude and if this is the global marginal refiner, what is the crude price differential between these two crudes?
Finally, she can take an hour drive to out of town to a neighboring city and pay 84 for the suit. Hannah makes $85 dollars and hour where she works. She has time to take off work to purchase her suit, so each hour away from work is 80 dollars in lost..
What are the primary differences between industrial users and home users of electricity that allow the utilities to discriminate between the two markets in terms of price? How do we compensate for these differences in order to improve the "common ..
State thes implified version of the problem in which the household chooses tomorrow's capital stock instead of today's investment .2 Given the Setup in 1.1, state the current value Lagrangian. .3 State the household's first-order conditions for cons..
Does the answer to b depend on how much labor and capital are used If the price of labor is $4 per hour and the rental rate of capital is $5/hour, how much of capital and labor should be used to minimize the cost of production
How does an increase in an excise tax on cars affect the supply of cars. more cars will be made or fewer cars will be made or else.
A. In 1996, many cows in Great Britain came down with "mad cow disease". As a result, the nations of European union banned the import of British beef.
Devise a government subsidy that will induce private education providers to educate socially optimal number of students. Explain. Provide a $ amount for the subsidy.Does it ever make sense to not educate some students. If the example were couched ..
Fill in the table for the perfectly competitive firm. Explain how you arrived at each number and what is the optimal output, price and profit of the firm?
Draw in the line showing the equilibrium-relative commodity price in isolation in each nation.
Should the firm shutdown immediately when the total fixed cost equals $1,000,000? Should the firm shut down immediately when the total fixed cost equals $3,000,000?
Assume that a profit maximizing monopolist faces an inverse demand function given by p(), and a total cost given by c(y). Suppose the government wishes to combat the undesirable allocational effects of a monopoly
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