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Bobby Brush agreed to paint Harry Resident's house for $5,000. Bobby never planned to actually paint the house, but made a habit of entering into contracts, taking partial or complete payment in advance, and never doing the work. Bobby got his friend, Beth, to talk to Harry about how competent and honest Bobby was, and explain that Harry should not be concerned about the quality of work or paying Bobby in advance.
Harry wrote Bobby a $3,000 check one week before the painting was to be started. Bobby transferred the check to Allison in exchange for Allison's car, which was worth $2,800. Before Allison had a chance to deposit the check, there were several news stories about Bobby and all the fraud he had been committing. Allison then transferred the check to Beth, who then transferred it to Cathy. Beth gave Allison value for the check, and Cathy gave Beth value. Explain the applicability of the shelter principle in this situation.
consider a market of mp3 players. list one or two events related with this market which will cause the following
suppose mpc is 0.8 initially. households then change their behavior so that the mpc falls to 0.75. what happens to
Suppose the annual inflation rate is at 2% and 8.5% of the labor force is currently unemployed. If you were on the Fed's Open Market Committee, what action would you prescribe? How would this affect the economy, the inflation rate, and the unemplo..
It is estimated that a firm contemplating entering the breakfast cereal market would need to invest $ 100 million to build a minimum efficient scale production plant (or about $ 10 million annually on an amortized basis). Such a plant could produce a..
Analysis regarding how such a supplier makes such a determination in order to maximize the firm's profits. Include in your response.
Can you say whether or not actual inflation is equal to expected inflation - Can you say whether or not inflation will rise or fall from its current amount
This assignment reviews how supply and demand interact to determine the market price and quantity of a good or service. You have been given an Excel spreadsheet with data on different variables determining demand and supply for a given product (e.g. ..
mitchell electronics produces a home video that has become increasingly very popular with children.nbsp
Assume all markets are competitive, the product price is p = $2 per unit, the wage rate is w = $16 per hour and the firm's production function is q=E(36?E), where E is the level of employment and the firm's fixed costs are zero.
Determine the current amount of money that must be invested at 12% nominal interest, compounded monthly, to provide an annuity of $12000 per year for 4 years, starting 11 years from now. The interest rate remains constant over this entire period of t..
Aggregate Demand and Supply" •Imagine that the mayor has hired you as a consultant to evaluate the increase in aggregate demand in the city where you live. Describe to the mayor one (1) aggregate demand and supply factor that would have the greatest ..
Critics of traditional welfare programs often argue that a downside of traditional welfare programs is that when the government gives lower income people money, it causes them to work less. Compare and contrast the theoretical implications on lab..
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