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Think of a business firm you recently visited (such as Walmart, Home Depot, Red Lobster, Barnes & Noble, McDonald's, etc.). What motivated the producers of all the individual products in the store to make them and offer them for sale? How did the producers decide on the best combinations of resources to use? Who made those resources available, and why? How does the market determine who will get the goods and services? Who decides whether these particular products should continue to be produced and offered for sale? How do these decisions differ between capitalist and socialist systems?
Tests are supervised by skilled mechanics utilizing equipment produced by two leading competitors in the auto test equipment company
could you have both a comparative and absolute advantage in trading. If so, what if at all would be the benefit for your country to trade with any other country.
Fill in the missing data for price (P), total revenue(TR), marginal revenue (MR), total cost (TC), marginal cost (MC), profit (π), and marginal profit (Mπ) in the following table:
What are financial intermediaries? How do these intermediaries function in the economy? What is a federal government budget deficit? What is the national debt? How does a budget deficit affect the economy?
The demand for polished bronze is given by P = 100 - Q/2. Production of polished bronze is controlled by Bronze Indentify BIs profit maximizing output and price. What is the cost to the town of removing the mercury pollution?
Retirement of baby boomers threatens the Social Security system because number of retirees will be relatively large compared to number of workers remaining by 2020
What is the equilibrium price and quantity. Illustrate what will sales be if the price is dropped to $20.
The State of Wyoming spends about $300 million dollars per year on higher education, and also provides generous Hathaway Scholarships. Does higher education provide enough positive externalities for that state subsidy to make sense economically.
Graphically illustrate short-run supply. Also include on your graph the long-run aggregate supply curve. At what point must the short-run aggregate supply curve and the long-run aggregate supply curve intersect.
Compute the intercept of the budget line on the "movie ticket" axis. c. Compute the intercept of the budget line on the "DVD rental" axis. d. Find the slope of the budget line when movie tickets are on the vertical axis and DVD rentals are on the hor..
If velocity is unchanged and the money supply grows by 13% and the real GDP grows by 4%, what is the rate of inflation?
All semester we have been tracking the economy to discern where it currently resides along the business cycle and where it seems to be headed over the next 6-9 months.
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