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Q. In economic history there have been many great Economists who have developed theories, concepts and ideas which have improved our economy to a great degree. Below are five very influential and important economists: Irving Fisher, Milton Friedman, Friedrich A Hayek, John M. Keynes, and Adam Smith. Select one of the economists from above and discuss. Why are they important? Have they helped or hurt our economy? If they were alive today, what do you think he would suggest as an economic plan for our economy? Would they agree or disagree with the current policies?
The Road Runner Club contributes money to Senator Sly's reelection campaign fund, and Senator Sly helps pass legislation to add more jogging paths across the state
Why do monopolistic competitors have a tendency to advertise much more than perfectly competitive firms?
Prime Products manufactures specialized goods to customers' specifications and operates a job-order costing system.
The Australian government administers two programs that affect the market for cigarettes
The government wants to stimulate the economy. By how much will aggregate demand at current prices shift initially before multiplier effects.
Show how each of the following would initially affect a bank's assets and liabilities.
Consider a product market for a normal good. Suppose consumers' income increases. Explain what will happen to labor demand for firms in that market.
What is the deadweight loss if buyers, instead of vendors, are required to pay the tax of $4 for each unit of the good sold.
Calculate Max's marginal utility from snorkeling at each number of hours per day. Does Max's marginal utility from snorkeling obey the principle of diminishing marginal utility.
Repeat these calculations for the third, fourth, and fifth years, assuming that the Government taxes at a rate each year and has noninterest expenditures annually.
Use supply and demand model to explain the dramatic rise in the price of a college education.
Assume that during the last month of the tenth year of ownership, the property in Problem 2 is sold for 1,500,000. Assume also that the seller incurs transaction costs equalling 6 % of the sales price.
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