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The official measure of GDP
Elucidate what happens to the official measure of GDP in each of the following situations.
a. Air quality improves significantly throughput the United States, but there are no effects on aggregate production or on market prices of final goods and services.
b. The U.S. government spends considerably less on antipollution efforts this year than it did in recent years.
c. The quality of cancer treatments increases, so patients undergo fewer treatments, which hospitals continue to provide at the same price as before.
Should you make her an offer at the salary or continue the interviewing process. Explain
Illustrate what is an opportunity cost. Elucidate how does the idea relate to the definition of economics.
School tries to discourage Twinkie consumption by raising the price to $.40, by how much will Matt's mother have to increase his lunch allowance to provide him.
Illustrate what an identification and discussion of economic issues of special concern at the present time or in the future.
Elucidate what does this imply about the use of monetary and fiscal policy over the business cycle.
Does a lump sum tax cause the after tax consumption schedule to be flatter than the before tax consumption schedule.
Explain how does monopolistic competition differ from a) pure competition; b) pure monopoly; c) oligopoly? Explain fully what product differentiation entails.
A company currently sells 60,00 units a month at $10 every unit. The variable cost every unit is $6. The company decided to raise the price about 10%.
Illustrate what are the State's doing that is consistent with the constitution.
What is the social optimum quantity and price. Calculate the total surplus in the market equilibrium, at the social optimum and with the tax.
Air transport for businesspeople and tourists
Assuming Mr. Delaney decides to keep the body shop, and the consultant reports that it is feasible to raise prices, should Mr. Delaney do so. If he does, illustrate what general guide can you suggest as to how much price should be increased.
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