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1. A positive statement is one which is:
derived by induction. derived by deduction. subjective and is based on a value judgment. objective and is based on facts
2. The invisible hand refers to the:
fact that the U.S. tax system redistributes income from rich to poor. notion that, under competition, decisions motivated by self-interest promote the social interest. tendency of monopolistic sellers to raise prices above competitive levels. fact that government controls the functioning of the market system
3. Innovation lagged in the centrally planned economies because:
there was too much domestic business competition. there was too much competition from foreign firms. enterprises resisted innovation out of fear that their production targets would be raised. exports had to equal imports for the plan to work.
Determine how global competition impacts FORD. Should the organization/industry continue, expand, or reduce current operations in order to maximize profits? Explain your reasoning.
What is the negative consumption externality described in this quote? Show this externality on a correctly labelled demand and supply diagram for the petrol market.
How might a Wal-Mart representative respond to the negative criticism that might arise as the result of sighting the new facility in a community ranging from traffic congestion to anti-union sentiment to unfair competition.
Radovilsky Manufacturing Company, in Hayward, California, makes flashing lights for toys. The company operates its production facility 300 days for each year. It has orders for about 12,000 flashing lights for each year and has the ability of prod..
What is the welfare loss in the labor market compared to the case where the engineer labor market is competitive?
when the government increases taxes to provide traditional public goods, such national security, there tends to be what. marginal external cost equals marginal private cost minus marginal social cost.
Construct the Coutrnot profit function. Differentiate this function and solve for the reaction functions of firm one and firm two.
Discuss why is it important to think that the holistic view of a student in terms of standardized assessment and how would the results of your interpretation effect educational decisions for the student?
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
Compute the probability of failing to stop at an intersection, given the driver was on the cell phone.
What is the underground economy? What is the impact on the underground economy of instituting a tax on a certain productive activity?
What is the equilibrium price and quantity and assume that changes in fashion cause the demand for tshirts to rise by 4 million at each price. What will be the new equilibrium price and quantity?
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