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What are the broad empirical regularities associated with growth and development that modern theories of economic growth attempt to explain? Enumerate and describe briefly.
David’s total variable cost function has been calculated to be TVC = 100Q + 30Q² - Q³, where Q is the number of units of output. When marginal cost is a minimum, what is the output level? When average variable cost is a minimum, what is the output le..
Due to a technical breakthrough, the fixed costs for a firm drop by 25%. Prior to this breakthrough, fixed costs were $100,000 and unit contribution margin was and remains at $5.00. The new amount of break-even units will be?
Chrysler announced a new incentive program on its minivans that included subsidized interest rates also cash allowances.
Distinguish between liberal economics and conservative economics. Why is macroeconomics an inherently political subject? Summarize the problems that can be created by rapid inflation. How can inflation become self-perpetuating?
The Board of Governors of the Federal Reserve System:
A firm making more than a normal profit may still be experiencing an economic loss. An inferior good is a good whose demand decreases as its prices decreases. As new firms enter a monopolistically competitive market, the demand faced by each competin..
When confronted with a natural monopoly that restricts output and charges monopoly prices, the two methods that governments have for promoting better outcomes are:
q1. a u.s. resident can earn 6 percent interest on a one-year bank deposit of 100000 at home. alternatively she can
Suppose that re are 10 million workers in Canada and that each of these workers can produce either 2 cars or 30 bushels of wheat in a year. What is opportunity cost of producing a car in Canada.
Distinguish between the following terms- Direct subsidies vs. indirect subsidies. Auction method quota allocation vs. Rent-seeking method quota allocation. Safeguard import Tariff vs. Import tariff.
The crop of hops in the Yakima Valley has been greatly affected by the invasive plant species. As a result, craft breweries in the Northwest turn to hops from Germany to make up the short-fall. How would you illustrate this change in the Washington h..
Describe absolute and comparative advantage. Explain the influences affecting foreign exchange rates.
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