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According to freakonomics based on chapter 3 answer the questions below.
1. Explain how did the invention of crack cocaine transform the urban street gang?
2. As per the data cited in this chapter, civil rights laws and a shift in the attitudes in the United States regarding race helped to improve the status of black society. How did crack cocaine alter that progress?
3. Based on the examples in this chapter, what does the invention of better and cheaper production methods do to the price and sales of a good or service?
Some economists argue that only unanticipated increases in the money supply can affect real GDP.
Lauren Moore has sold her business for $720,000 also wants to invest in condominium units (
Explain briefly why the sellers and buyers are each willing to do so. What is the total cost of pollution reduction in this situation.
Explain how much change in the number of units sold can the company afford and still be no worse off.
Indicate if GDP is affected, under what category and what happens to GDP Oklahoma cleans up after a devastating tornado.
A purely competitive wheat farmer can sell any wheat he grows for $10 per bushel. His five acres of land Elucidate how.
Explain how many seats should be protected for full-fare passengers.
Explain how many units of pork will the government be forced to buy to keep the price at $2.25. How much will the government spend in total.
In equilibrium, approx what is the firm's total cost and total revenue. Illustrate what is the firm's economic profit or loss in equilibrium.
illustrate what is the new equilibrium price and quantity. Compute the equilibrium price and quantity in this market.
explain increase in quantity of defense goods when there is an increase in marginal benefit.
If you want to make four equal payments on each January 1 from 2013 through 2016 to accumulate the $1,000, how large must each payment be.
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