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Consider changes in the supply of fresh orange juice. Give an example of a change in the price and quantity supplied that would demonstrate each of the following.
A. Elasticity
B. Inelasticity
What is the uncertainty of outcome hypothesis? What does the standard deviation statistic tell you? What is a shortcoming of using the standard deviation of winning percentage (within a season) to study competitive balance?
Explain why is the index of industrial production an appropriate coincident indicator. Why is the average prime rate charged by banks an appropriate lagging indicator.
When the unemployment rate is_____ than the natural unemployment rate, real GDP _______. At a business cycle trough, cyclical unemployment is ____ and at a business cycle peak, cyclical unemployment is _____.
Within the context of responsible stewardship, provide an argument for or against workers' rights to organize unions and bargain collectively from and ethical, social, and/or legal point of view.
What is meant by the "social construction of categories"? In what ways are concepts such as gender, race, sexual orientation, social class, and exceptionality social categories?
What is inflation? What are the causes of inflation? Is inflation desirable and what can be done to control inflation in a market economy? What is the Consumer Price Index (CPI)? How has the CPI behaved since the year 2000? What have been the caus..
The best way to do a sales analysis is to first break down sales by customer type, and then geographic region. Pricing objectives need not be explicitly stated. "Psychological pricing" involves setting prices which end in certain numbers, while "odd-..
Having worked for many of the firms in the petroleum industry, you know that the price elasticity of demand for a representative firm is about −1.25. An industry publication recently reported that the Rothschild index for the petroleum industry is es..
There is a dollar on the table, which each player can try to grab. If only one player grabs, G, and the other does not, D, the player who grabs gets the dollar and his payoff is 1, while the other player's payoff is 0. If both players try to grab at ..
Sam sells property to Betty and delivers Betty a deed that says "This property is conveyed to Betty so long as she never operates a bar on the premises." If she operates a bar on the premises, Sam Seller may take possession of the property.
What is the difference between second-degree price discrimination and third-degree price discrimination?
Find equilibrium Y in the basic Keynesian model (round Y to the nearest whole number) What are the values of BS and NX at the equilibrium level of Y? Find the value of savings at equilibrium Y.
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