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Explain the difference between nominal and real GDP, andprovide a numerical example with your own numbers of how nominalGDP can be converted to real GDP.
Find consumer'sA utility maximizing combination of Qax and Qay. At this point compute the level of utility enjoyed by consumer A.
Explain how market structure affects market performance and conduct. Identify three types of government regulation that help to improve market performance and conduct
South Korea is one of the major beef importing countries. With no international trade, Korea's equilibrium price for beef was $10 million per kilo tonne and equilibrium quantity was 30 kilo tonne.
Do you think internal labor markets enhance or detract from efficiency How might one argue that the realization of dynamic efficiency is more important that achieving static efficiency Do you agree
The market price of a basic digital cell phone fell due to increased production.Demand for office space in major US cities dropped significantly between 2009 and 2010.
You have been put in charge of electricity restructuring on the Isle of Mann. As part of the restructuring plan, it has been suggested to you that all wholesale electricity should be sold on the spot market at a price that is set every single min..
Advanced MUa = z=10-x and MUb = z = 21 - 2y, where z in marginal utility per dollar in the amount spent on product A, and y is the amount spent on product B. Assume that the consumer has $10 to spend on A and B
What is the policy credibility and how is it relevant to the problem of reducing high inflation How is credibility related to the time inconsistency problem What are the evidence of the Phillips curve.
The demand for housing is often described as being highly cyclical and very sensitive to housing prices and interest rates. Given these characteristics describe the effect of each of the following terms of whether it would increase or decrease the..
Governments have sometimes not remembered about elasticity when they formulate tax rule. A few years before the city fathers in Washington DC wanted to raise revenues so they raised gas tax by ten cents a gallon.
Fall proportionately more than the change in GDP, Fall proportionately less than the change in GDP, Rise proportionately more than the change in GDP
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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