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Suppose Texas(an oil producing state) has been proposing the implementation of a tariff on oil imports. If the world price of oil declines significantly , the chance that the proposal will be implemented will increase?
What does your anticipated adjustment process imply about the CR for the construction industry?
Obtain Income elasticity of demand and Calculate the quantity demanded for goods 1 and 2 at these prices and this income level.
Movie theaters often offer decreased rates for children under ten. This suggests that tht demand for adult admission is
A. Assume that ? = 1. What is the real interest rate, equilibrium level of output, consumption, planned investment, and net exports? B. Suppose the Fed increases r' to r' = 2. Calculate what happens to the real interest rate, equilibrium level of ..
Governments have several means available to guide and influence competition in the marketplace. These means include government ownership of firms and industrial policy.
First, discuss the decision by doctors to enter seperate markets for various specialities rather than starting a family practice. Second, discuss the monoploy that the American Medical Association holds on the production of doctors in the US and i..
The existence of only three big U.S. auto manufacturers is evidence that the market structure is anti-competitive and that antitrust laws are being broken. Measure this assertion.
Why is income inequality regarded by many people as a form of market failure and describe how tax creditsare used in New Zealand to modify the distribution of income
Suppose the price of product B increases to 3. What happens to quantity demanded of both products?b. Calculate the arc cross-elasticity between product A and product B using prices for product B of 2 and 3. c. Are these goods substitutes or complemen..
Sleak Teak builds yard furniture using domestic hardwoods and (in a smaller shop) knick-knacks form the same sort of wood. Although hardwoods were readily available in the past, recently they have become harder to obtain. Consultation with the man..
You have been appointed economic advisor to Exam land. The mpc is 0.6; investment is $1000; government spending is $8000; consumption is $10000;
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.
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