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Please describe the actions of the economic actors in the economic circular flow diagram and the physical and monetary transactions that occur in each market of circular flow diagram. What is the circular flow diagram describing?
Please explain the three different, but equivalent, ways that this diagram describes GDP.
Occasionally economist use GDP as a measure of a nation's economic strength. What is a better measure of a nation's economic strength?
John buys shoes for $1 a pair and socks for $1 a pair. His annual income is $20. Now suppose the government institutes two new programs: first, it taxes shoes, so that shoes now cost John $2 a pair. Second, it gives John an annual cash gift of $10. ..
What was disposable income (DI) for 2009? What does disposable income consist of? How did DI change from 2008? What caused these changes? 4. Does GDP measure the well-being of society? Why or why not? 5. What was GDP in 2008 (sometimes called GSP) ..
its lenders requested that the firm disclose full information about its revenues and costs. Elucidate why Brownstown's management was reluctant to release this information to its lenders.
Illustrate what are the opportunity costs of producing X and Y for Leah and Tim; and if specialization is possible, which good should Leah specialize in? and How about Tim.
What is the most that Jo should be willing to pay the consultant for the information.
If an economy experiences increasing prospect costs with respect to two goods, then the production-possibilities curve between the two goods will be.
Among which of the following U.S. policies and institutions may negatively influence U.S. long-run economic growth.
q1. consider the following numerical example of the simple keynesian model with no government spending or taxes all
Assume that Country A has a population of 500,000 and only produces 1 good: cars. Country A produces 100,000 cars per year. The people in Country A purchase 90,000 cars, but there are not enough cars to fulfil all the demand. What is the composition ..
Ben bakes bread and Shawna knits sweaters. Ben and Shawna both like to eat bread and wear sweaters. In which of the following cases is it impossible for both Ben and Shawna to benefit from trade.
Suppose a duopoly and let demand be specified by P=A-BQ. In accumulation both firms have same marginal cost c. Interaction between the two firms will be frequent infinite.
The HHI for automobiles is 2,350, for sporting goods is 161, for batteries is 2,883, and for jewelry is 81. Which of these markets is an example of monopolistic competition?
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