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1. Studies have concluded that the dead weight loss of monopoly power in the United States is less than 0.5 percent of GNP. From your knowledge of the determinants of the dead-weight loss, explain why such a small figure is plausible.
Determine What situation would our economy be presently in and what type of stimulus and healthcare package would we be seeing if, through a silly quirk of fate:
problem 1 write each production function given below in terms of output per person y a yl and capital per person k k l.
Elucidate implications would these policies have on the economy and specifically your personal and professional life.
nGDP is $5 trillion in Yr 1 and $5.4 trillion one year later. What is the GDP growth rate? B) If rGDP in Yr 1 was also $5 trillion what can you say about Yr1? C) If rGDP grew 5% between Yr. 1 and Yr. 2 what did GDP prices do?
Suppose there are two firms in a market who each simultaneously choose a quantity. Firm 1's quantity is q1, and firm 2's quantity is q2. Therefore the market quantity is Q = q1 + q2. The market demand curve is given by P = 60 - 4Q. Also, each ..
What are the relationships between these basic units? How does a circular flow diagram illustrate these relationships?
Use Internet, and other sources of literature and locate an article concerning trends in consumption patterns.
Suppose all employers in city c decide to adopt a 4-day week, so that workers ether work 10 hours per day for 4 days or work at home for one day a week. Wages remain the same. How does this change affect the bid rent function
Is the economy of a big city more competitive than that in a small town or given neighborhood? How? Do you think your local grocer has monopoly power?
Illustrate what rate of inflation characterized this economy during 1994.
Jeff, a single individual, receives $5,000 interest income from Treasury bills and $18,000 in social security benefits. What is Jeff's gross income?
To invest in upgrades to your company’s heating , you borrow $165,000 from a local bank. If the bank asks you repay the loan in 15 equal annual installments of $19,500, determine the bank’s annual interest rate on this loan transaction.
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