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Joe subscribes to an Internet provider that charges $2 per hour. He has $100 per month to spend and is at equilibrium by buying 10 hours of Internet access and $80 worth of other goods. Draw the indifference curve and budget line. If the company switches to a $20 monthly fee for unlimited Internet access, is Joe better off?
Illustrate the effect on the marketplace for a hr. of babysitting services 30 yrs into the future when children born today.
Describe the short-run impact that economic fluctuations and growth (or lack thereof) have had on aggregate supply, aggregate demand, output, unemployment, and inflation.
Suppose an individual is faced with two goods: income and leisure. The basic wage rate is 8 dollars per hour but if the individual works more than 8 hours a day, he or she get's an overtime pay of $12. Draw the budget line for this individual.
Calculate your price elasticity of demand of widgets. What can you say about your price elasticity of demand of widgets?
Illustrate what are elements of Circular-Flow Diagram. Illustrate what concepts does diagram illustrate.
Illustrate what are some of the downside risks also potential problems involved when using fiscal policy.
Suppose a second firm enters the market. let Q1 be the output of the first firm and Q2 be the output of the second. What is the profits of each firm as functions of Q1 and Q2.
Explain why is it important to take into account changes in the participation rate and in the ratio of full to part time employment in assessing the economic and social impact of changes in the unemployment rate.
Draw a diagram to Explain how effect of advance of technology in labour market.Illustrate what is when-to-work decision when technology advances.
Economists oppose limiting economic growth possibilities because such limits would inevitably involve
Sophie knows nothing about any of this. Can Tasty Foods be convicted of a crime in se circumstances. Can Sophie be held personally liable.
Illustrate what is relative PPP. Compute the current pound spot rate in dollar which would have been forecast by PPP.
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