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Thinking globally .What kinds of country-specific influences might explain the great diversity in government spending as a share of GDP among industrial nations? Choose two countries with very diverse spending patterns and offer some possible explanations for the difference
How would your answer to part (b) change if Robinson adjusts his production to take advantage of the world prices?
If cyclical unemployment increases, what would you expect to happen to inflation? If cyclical unemployment falls, what would be the effect on inflation?
d) How much profit is the monopolist making e) Suppose the market is no longer depicted by a monopoly, but has become perfectly competitive. What would the profit maximizing price and quantity be if the market were perfectly competitive
Remembering that the change in the capital stock is investment less depreciation, use a calculator or a computer spreadsheet to show how the capital stock per worker will evolve over time in both countries. calculate income per worker and consumpti..
Without participation incentives, will a confused student ask a question when it would be socially efficient? How will they know it is socially efficient? How would you design an incentive system to generate questions from confused students?
Gomez runs a small pottery firm. He hires one helper at $12,000 per year, pays annual rent of $5000 for his shop, and spends $20,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth)..
Tom can produce 40 balls per hour or 4 bats per hour. Tessa can produce 80 balls per hour or 4 bats per hour. a. calculate Tom's opportunity cost of producing a ball. b. calculate Tessa's opportunity cost of producing a ball.
In response, she has proposed legislation that would award each existing firm 20 percent of a contract for 600 units at a contracted price of $100 per unit. If this legislation is passed, by how much should you expect your profits to change?
Supply Function: A review of industry-wide data for the jelly and jam manufacturing industry suggests the following industry supply function: Q = 59,000,000 + 500,000P - 125,000PL - 500,000Pk + 2,000,000W Where Q is cases supplied per year, P is the..
This Christmas, you decide to buy your true love a partridge in a pear tree. After consulting with several garden centers, you make your purchase by writing a check for $150. The garden center promptly deposits your check in its bank.
Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour. She spends 5 hours per day studying. a.) Draw Maria's production possibilities frontier for reading economics and sociology.
What does behavioral economics have to say about each of the following statements?
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