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The Industrial Revolution gave the European countries an advantage in the world marketplace. What sort of products helped it achieve this advantage? Give specific examples. Explain whether these products helped make society a better or worse place to live, or neither.
Explain the economic effects of spillover benefits? Thoroughly and completely explain how spillover benefits are corrected and the economic implications of the corrections?
The Law of Supply suggests that the price-elasticity of supply is: If a 10 percent increase in the price of one good results in no change in the quantity demanded of another good, then it can be concluded that the two goods are: Marginal utility is t..
Collusion never results in benefits for the participants. Its overriding goal is to enhance competition and thereby increase profits. Collusion is legal in the U S. The greater the number of firms the less difficult it is to maintain a collusion. Col..
Using graphs illustrate the effect of increased tariffs for imported steel in the domestic product market for steel and the domestic labor market for steel workers. Using your graphs, indicate the cost to consumers of each job saved in the steel indu..
Describe the Lucas critique. Why might the level of government debt affect the government's incentives regarding money creation?
Research BP Oil Spill & Blue Jean Waste online. After researching, please tell me if you feel that if a company is doing enough “good” for the local economy, that pollution and environmental repercussions are ethically acceptable. Please list the url..
Nicki lives in two periods and has a utility function u(c1, c2 ) = c1xc2, where c1 is her consumption in period 1, and c2 is her consumption in period 2. Nicki's income in period 1 (I1) is $400, and her income in period 2 (I2) is $220. She can borrow..
If John and Jose are not able to recognize and respect cultural differences, they may contribute to the emergence of which type of conflict?
Many economists claim that in a small open economy operating under a fixed exchange rate regime, the domestic central bank is powerless to control the money supply, and monetary policy is thus powerless as a tool to stabilize domestic output. Do you ..
The version of Okun’s law assumes that with no change in unemployment, real GDP (RGDP) normally grows by 3 percent over a year. If RGDP last year was $12,375 and the unemployment rate fell by 1 percentage point from last year to this year, what would..
Explain the relationship between MR and MC at the profit-maximizing output. Also discuss the relationship between Price and Marginal Cost and price elasticity of demand. Is this level of output economically efficient?
Describe your educational goals and share personal information as directed by your instructor and to the extent that you are comfortable.
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