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Explain how scarcity and choice are related. Economic theory says that a rise in the price of a good will cause people to buy less of it. If the price of meat increases and John Doe buys more meat, has the theory been refuted?
Explain which of the following transactions would be directly counted in 2007's GDP. In each case, explain whether the action causes an increase in Consumption, Investment, Govt. Purchases or Net Export.
Trade off liberalization conflict with morally-conscious environmental policies. While it is true that economic growth is necessary for general welfare
You are looking to install a new solar energy system for your house (for heating, air conditioning, and hot water). The cost of the system is $14,000 and the annual savings in electricity for this system today is $2500. This system has a lifespan ..
Given the data of real disposable income and real consumption, draw consumption function, determine the slope-What is the marginal propensity to consume?
Elucidate why intermediate goods and services usually are not included directly in GDP. Are there any circumstances under which they would be included directly.
Illustrtae the difference among concretionary and expansionary fiscal policy.
What is a discouraged worker? Are they included in the basic unemployment rate? Are they included in any measure of unemployment? How has the number of discouraged workers changed since 2008? How does the exclusion of the discouraged worker affect..
Name various areas of business in the US (or world) where the prevailing market structures have changed dramatically in the past twenty years and discuss the direction of the change.
Draw a graph showing hte above situation. Include in that graph, the monopolist's cost curves, demand and marginal revenue curves and the price and quantities that are indicated by the situation described above.
Suppose demand function has changed t0o Qd2 = 14-P. What is the new equilibrium price and quantity. Show your work
What is the quantity of abatement that would be observed if the two communities could not reach an informal agreement among themselves, but each community could undertake a transaction with the factory? Would there be a free rider problem, yes or ..
Given that this is a training manual to sensitize employees, how will this affect any practices at the company.
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