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Differentiate the expenditure versus income approach to GDP and discuss why are the results the same? What are some of the drawbacks of using GDP while doing international comparisons among countries?
Marketing mix is controllable set of activities that the firm employs to respond to the wants of its target markets. Make a report on the marketing mix and keep the following questions in mind:
Discuss why the number of children that a family has may differ in an Industrial Society and a Third World Agrarian Society.
Why does the burden of sales tax fall completely on customer when the value elasticity of demand is perfectly inelastic; the seller when perfectly elastic.
Use supply or demand graphs to examine shifts in supply and demand and resulting changes in market equilibrium in the condition below.
Suppose that firms in the short-run are earning above-normal profits. Describe what will take place to these profits in long-run for the following markets:
Write down the differences between absorption and variable costing techniques on income statement presentation.
How many units of phosphorus will these two firms emit if the phosphorus emissions are left unregulated? What is the socially optimal level of phosphorus emissions in the river?
For each of the following events, indicate whether the AD or the AS curve shifts. In brief describe the reasoning behind your choice.
You're in Management for IBX Steel Components. J. D. Brotsky is a top labor leader and just announced that her union will go on strike against management unless you grant the workers a significant pay raise.
Describe why government regulation is required, citing the major reasons for government involvement in a market economy.
Discuss the pros and cons, for returning to the gold standard. Provide the positive and negative effects of reversing the current policy.
Explain why a customer who select a consumption bundle in which relative price exceeds the marginal rate of substitution can not be at an optimum.
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