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Synopsis of Chapter-3 of the textbook - Economics:The Essentials
How the hypothesis of diminishing marginal utility is used to explain both the demand curve's negative slope and consumer surplus - a central concept in benefit-cost analysis;How small user charges can generate both large resource savings and small reductions in household utility; andHow supply and demand analysis is used to determine the extent to which taxes can be passed on to others.
List and explain the sources of expenditures in economy by focusing on the 4 major sectors of economy.
Estimate the linear trend in the data, and use it to forecast gasoline sales in the United States in each quarter of 1990.
The opportunity price of an investment is the real rate of interest, and that's why investment demand depends on the the real interest rate.
The demand function for VCRs has been estimated to be Qv = 123 - 1.7Pt + 46 Pm - 2.1Pv -5M, where Qv is the quantity of VCRs,Pt is the price of a videocassette, pmis the price of a movie, Pv is the price of a VCR, and M is income.
What do you think branded products usually are of higher quality than generic products and therefore justify their higher prices.
What is the total amount of US government debt as of the time you look it up?
Suppose you are running a photo copy center that makes illegal copies of the textbook. An illegal copy of the book sells for $10 and you only have one copy machine.
Suppose Sally only purchases food and clothing, and her utility can be expressed as U = F _ C. Currently-What is her optimal bundle?
Explain why do people who work at investment banks earn so much. What is the justification for capital requirements imposed by bank regulators.
Discuss the impact of these relations in the economies of Europe, China, and the U.S. Create a table in Microsoft Word to present the data and your analysis based on the data.
Using the IS/LM model, demonstrate the effect of each of the following changes.
Illustrate what is the difference among real GDP and nominal GDP. Does GDP accurately reflect our nation's productivity.
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