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The president of the United States announces in a pre-conference that he will fight the higher inflation rate with a new anti-inflation program. Predict what will happen to interest rates if the public believes him. Why are expectations so important to the role of interest rates?
About thirty United States localities circulate their own currency with names like "Ithaca Hours" and Dillo Hours." Doing so is perfectly legal although through law they are subject to a 10% federal tax, which currently the government is not collecti..
The average 15-year old purchases 12 CDs and 15 cheese pizzas in the typical year. If cheese pizzas are inferior goods, would the average 15-year old be indifferent between receiving the $30 gift certificate at local music store and $30 in cash?
With food on the horizontal axis and clothing on the vertical axis, identify on a graph the set of points that give Bridget the same level of utility as the bundle (10,5). Do the same for Erin on a separate graph.
In your opinion, should economic tigers be feared or tamed?
Why is an oligopolist more likely to be able to earn a profit in the long run compared to a monopolistic competitive firm Describe the Diamond-Water paradox and the solution Explain why price is greater than marginal revenue for a single-price
you are asked to identify a real world industry that conforms to either the oligopolistic product model or the
Debra usually buys a soft drink when she goes to a movie theater, where she has a choice of three sizes: the 8-ounce drink costs $1.50,the 12-ounce drink $2.00, and the 16-ounce drink $2.25.Describe the budget constraint that Debra faces when decidin..
As the flexible farmer approaches the marketplace, the farmer substitutes non-land inputs for land. As a result, the land-rent function of the flexible farmer is steeper than the land-rent function of the inflexible farmer.
consider the table below for the neighboring nations of northland and west coast. the table lists the maximum feasible
In many industries, such as supermarkets, banks, cell phonecompanies, etc., because of mergers our choices as consumers are reduced to two or three competitors. Do you think thisis good for the economy
Diamond makes an argument that all stratified societies employ one (or a combination) of four means to enable and justify the distribution of the social surplus. From the readings, discuss feudal stratification and how it was enabled and justified..
What did pre-Keynesian believe about the market and its ability to pull itself out of a recession 9. What role do investments in human capital, physical capital, technology development, and improving institutional quality play in creating economic..
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