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1. Give a detailed account of the various factors which determine whether an individual (or group) will migrate from one place to another.
2. Briefly explain with the help on an example what is meant by the Screening Hypothesis.
3. Suppose firms reduce their spending on new equipment and software. We can expect the price level to _____ and real GDP (output) to _______.
increase : increase
decrease : decrease
increase : decrease
decrease : increase
In December 1994, a man in Ohio decided to deposit all of the 8 million pennies he had been saving for nearly 65 years. (His deposit weighed over 48,000 pounds!) With a reserve requirement of 5 percent, how did his deposit change the lending capacity..
Graphically illustrate the effects to total surplus of a per unit excise tax placed on an inelastic good. Make sure to clearly(i.e. remember our in-class rule for showing areas) denote which areas make the loss in consumer surplus, loss in producer s..
Question 1 Why would perfectly competitive industries advertise even though individual firms do not? Question 2 We could state correctly that the minimum characteristic necessary to distinguish among pricemaking firms is:
Do you think in legal matters and health matters and so forth people should be economically valued differently? or should there be one standard amount each person is worth/
A company is considering buying a new piece of machinery. A 10% interest rate will be used in the computations. Two models of the machine are available. What will be the book value of Machine II after 3 years, based on double declining balance deprec..
There is an intimate connection between politics and economics, and different systems of the two can only exist side-by-side in certain pairings. For instance, says Friedman, a society which is (economically) socialist cannot also be (politically) de..
Describe the economic status of South Korea. What types of economic activities are most prominent there? What factors have led to your region's growth or lack thereof?
Super freakonomics chapter 3 Levitt and Dubner describe two studies, which provided empirical support for Gary Becker’s prediction that even family members would engage in what might be termed strategic altruism. Use marginal benefit-marginal cost an..
How is it that case law can become mandatory authority? We know that each court decision that becomes case law is made by judges who compare the facts of the case with their interpretation of the law.
What are some of the monetary policies put in place during the decade of the 1980s? Consider the discount rate set by the Fed, the rates on reserves, and open market operations. What were the actions and impacts of these policies on businesses and in..
Suppose as a manager of a profitable department store you are confronted with a pricing problem. You have two types of customers: a high-end type that willing to pay a price of $ 25 for a pair of Levis Jeans and a low-end type customer that are willi..
Suppose the economy of Stockton produces four goods: strawberries, ice cream, sushi, andcoolers. However, consumers only purchase strawberries, ice cream, and sushi. Coolers are a final good, but are only used by ice cream trucks to store ice cream. ..
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