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Draw a production possibilities curve for time. On one axis put sleep time and on the other put awake time. You have 24 hours available in a given day. Indicate the combination that describes your allocation today. Also indicate a combination that is unavailable for anyone.
Three policies used to restrict trade are: Tariffs, Quotas, and regulatory trade restrictions. Discuss pros and cons of each. If the government has to decide on one which one it will?
Suppose the government imposes a price ceiling of $50 on a market characterized by the following information: Calculate the magnitude of deadweight loss from the price ceiling. Find a price floor that will result in the same magnitude of deadweight l..
Which of the following tends to make aggregate demand shift right farther than the amount that government expenditures increase?
Which of the following represents a short-run decision? A farmer discovers that the total cost of growing 2000 acres of corn is $400,000 and that the total cost of growing 2001 acres of corn is $401,000. The marginal cost of the 2001st acre of corn i..
Which of the following would cause a shift of the supply curve for hot dogs check all that apply?
Compute the effective annual rates for the following:
Assume the full- unemployment rate is 5% . What could the Fed do in 2002-2003 in order to bring the economy back to full-unemployment ? What did the Fed actually do? Explain in detail
Statistics Canada has recently adjusted the CPI basket of goods and services by increasing the share of shelter in total expenditure from 25.7 to 27.5 percent, and decreasing the share of recreation, education, and reading from 13 to 11.8 percent. Wh..
A $1000 face value bond has a 6.85 percent semi-annual coupon and sells dor $980.00. What is the current yield? A 7 percent coupon bond has a face value of $1000 and pays interest annually. The current yield is 6.8 percent. What is the current price ..
A) nGDP is $5 trillion in Yr 1 and $5.4 trillion one year later. What is the GDP growth rate?
What is economics? Why is economics considered a social science? What role does economics play in your personal and professional lives?
Marge opens an oxygen bar in a building she owns. She utilized to rent the building to her brother in law.
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