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Explain how the circular flow diagram relates to the current economic situation. Using the circular flow diagram, explain a way that your family interacts in the factor market and a way that it interacts in the products market.
welform reform1. what happens to the number of people on welfare since 1994? what explains the change over
Suppose the price of widgets falls from $7 to $5 and consumption of widgets rises from 15 widgets a month to 25 widgets. Calculate your price elasticity of demand of widgets. What can you say about your price elasticity of demand of widgets? Is it..
Is Publix the monopolistic competition, oligopoly, monopoly, or perfect competition? Justify your classification of firm and employ the characteristics and features of the different market structure to determine which market structure to classify ..
Determine what would be present value of an product that has a salvage value of $25,000 at the end of 5-years? Suppose a discount rate of 3.8 percent for an end of year factor.
As part of your answer explain what happens when aggregate expenditure either exceeds or falls short of output in the current period and what impact this has on production in the next period.
the us navy is building an aircraft carrier. price 12 billion. there are about 300 million people in the us. suppose
engineers at a national research laboratory built a prototype automobile that could be driven 180 miles on a single
What are the distinguishing characteristics of “public goods”? Give two examples of a public good. Why are public goods difficult for markets to allocate efficiently?
Why do you think investment spending is the most sensitive component of AD? Briefly discuss. 3. Why do you think an average American spends more than an average European? Briefly discuss. 4. (Changes in Aggregate Supply) What are supply shocks? Disti..
Give a definition of Pareto Optimal Allocation in this economy. Find out all Pareto optimal allocations and graph them in the Edge worth Box and also describe what is the theory of Second Best? Prove the theorem by using a diagram.
Suppose that in 1984 the total output in a single-good economy was 10,000 buckets of chicken and the price of each bucket of chicken was $10. In 2005 the price per bucket of chicken was $20 and 25,000 buckets were produced.
The Swiss pharmaceutical global corporation Hoffman-La Roche has made a major breakthrough in the relief of a serious disabling disease that affects 3 percent of the world's population. Its new product Tigason is the first product that effectively..
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