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1. What is the budget curve and what is the condition for utility maximization?
2. Why is the marginal rate of substitution declining?
3. Explain the Lewis two-sector model.
4. Explain the neocolonial dependence model.
5. Explain the false-paradigm model.
The next two questions refer to the following setup: Workers can work for one of two farms, picking strawberries. The number of trays, y, that a worker of ability a picks per day is y = 4a. Assume that a is uniform between 0 and 20. Which workers wil..
Harry values a new jacket at $100 and buys it from Jenny at $80 (costing her $70 to produce it). Jim then offers Harry the same jacket at $60. Harry buys the jacket from Jim, and stops buying it from Jenny. Which of the following makes this event Par..
The required reserve ratio is 10 percent, a bank has checkable deposits of $200 million and excess reserves of $100 million. Assuming the bank is meeting its reserve requirement, what amount is the bank holding in reserves?
You are to setup a wireless LAN. What are some of the interferences that you should watch for?
Suppose the price level and value of the U.S. dollar in year one are 1 and $1, respectively. If the price level rises to 1.20 in year two, what is the new value of the dollar?
Estimate how companies need to bridge the gap between the current state and the e-business state.
q.british columbia tourist association distributes s pamphlets maps and other tourist-related information to people who
“Attempts to stimulate an economy with expansionary monetary policy will lead only to a loss of some of the country’s international reserves and to no permanent change in income under a fixed-rate system.” Agree? Disagree? Explain.
Assume world oil supply is 72 million barrels per day at a price of $49 per barrel. Suppose that if the price per barrel of oil increases to $58 per day, then 83 million barrels of oil will be supplied. Using the midpoint formula, what is the price e..
A nation using union labor monopolies to produce a product can export its surplus at a lower global price to those nations that are more efficient producers of the same product and as a result make the consumers in the exporting nations better off. F..
Suppose that the demand for olive oil is highly inelastic. Also suppose that the supply of olive oil is fixed for the year. If the demand for olive oil suddenly increases because of a shortage of corn oil, you would expect a _____________ in the pric..
Meg's pension plan is an annuity with a guaranteed return of 4% per year (compounded quarterly). She would like to retire with a pension of $40,000 per quarter for 25 years. If she works 37 years before retiring, how much money must she and her emplo..
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