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The seven-year appointment for the governor of Bank of Canada a. Makes the governor the highest paid official in Ottawa. b. Is reserved for friends of the minister of finance. c. Is reserved for a novice. d. Has the role of insulating the governor from political pressure
Economist George Stigler once wrote that, according to consumer theory, "if consumers do not buy less of a commodity when their incomes rise, they will surely buy less when the price of the commodity rises."
Discuss and explain some example of supply and demand that you have observed in the real world. Be do not use the example for the questions below, use something else.
Give at least three explanations of why economic reasoning would argue that this is to be expected.
The government has to go into the market and buy output, which it then puts in a warehouse for indefinite storage. the government must buy units of output to reach its price target the price support program raises profit per firm to.
If government imposes on the firms in a polluting industry penalties(taxes) that exceed the actual value of the damages done by the pollution, the result is an inefficient and unfair imposition of costs in those firms and on the consumers of their..
Elucidate why and the benefits/drawbacks of this strategy. Describe each tool and how it is used to achieve it desired effect on the US money supply.
In perfectly competitive market a company typically has short run average total cost curve and marginal cost curve of;
Coimpute how much the shortage or surplus is if there is any.
Draw a graph showing hte above situation. Include in that graph, the monopolist's cost curves, demand and marginal revenue curves and the price and quantities that are indicated by the situation described above.
Compute the income elasticity also elucidate how sale of the novels would change during a period of rising incomes.
New federal housing information demonstrate that the country's most overheated local housing markets make up such a large share of total United States market that a sharp fall in their value could stall or slow economic growth.
Illustrate what price is required to maximize income but keep profits at a minimum of $300?
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