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As the price of gasoline ranges from $3.00 to over $4.00 a gallon in a year, the amount of gasoline bought remains about the same; does this mean that gasoline is an exception to the law of demand or is there some better explanation?
Suppose in Fiscalville there is a 5 percent tax on the first $10,000 of income, but a 15 percent tax on earnings between $10,000 and $20,000 and a 25 percent tax on income between $20,000 and $30,000. Determine your marginal tax rate. Determine your ..
Over the business cycle,
Do you think Fed independence (from the legislative and executive branches of government) helps or hinders the achievement of low and stable price inflation? Why?
Calculate real GDP in each year, and the percentage increase in real GDP from year 1 to year 2 using year 1 as the base year. Next, do the same calculations using the chain-weighting method.
If the wage rate for his primary job increases to $22 per hour, will Ralph increase or decrease the number of hours he works in the secondary job?
Cost Minimization for Cobb-Douglas. Suppose the Acme Gumball Company has the production function of q=LK. Given that the MPL=K, MPK=L and MRT S=MPL/MPK. Part a-b, we are analyzing the impact of output on input choices. Suppose wage rate is w= $5 and ..
List the service that most likely to have network effects within 5 years. Google Fiber (providing GBit Internet access to homes) Purchase of Nest (maker of home thermostats and smoke detectors) Purchase of several robotics companies (Boston Dynamics,..
An individual’s demand for physician office visits per year is Q = 10 (1/20)P, where P is the price of an office visit. The marginal cost of producing an office visit is $120. (a) Individuals pay full price for obtaining medical services, how many of..
prisoners dilemma is a game that has been and continues to be studied by people from a variety of disciplines from
If you were the President of a large research-oriented medical school would you want your Board of Directors to invest in cigarette company stocks? Why or why not?
Identify and explain at least three aspects of wu wei (non-doing) that would be practical in the busy lives of city dwellers, especially those living in the West. Provide a rationale for your response.
Use separate graphs to sketch two indifference curves for people with each of the following utility functions.
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