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The demand for agricultural products is inelastic, and the income elasticity of demand for agricultural products is low. How do these facts help explain the decline of the family farm in the United States?
What are the characteristics of a monopolistically competitive market and how do these differ from perfect competition?
consider the market for smart-phones with two dominant players applea iphone4s and samsungs galaxy. these smart phones
A friend proposes a get-rich-quick scheme: borrow from a US bank, deposit in the Canadian bank. What's wrong is this scheme?
Suppose the consumption function is c = $400 billion + 0.8y and the government wants to stimulate the economy. By how much will aggeregate demand at current prices shift initially (before multiplier effects) with A $50 billion increase in governm..
Do you think governments should step in and help an economy move to potential or are "markets" capable of fixing themselves? Carefully consider the impact of falling prices.
Suppose that the reserve requirement is 10 percent and the balance sheet of the People's National Bank looks like the accompanying example. • What are the required reserves of People's National Bank Does the bank have any excess reserves
write a 700- to 1400-word essay examining five ethical decisions you made recently. do not feel pressured to disclose
The graph below shows the aggregate production function of two nations, A and B. Suppose that in 1958 each nation had $100 of physical capital for each worker and in 2008 each nation had $400 of physical capital per worker. Figure: Nations A and B..
In the market for corn flakes the price of cardboard used in packing the cereal has risen at the same time that the Surgeon General releases a report detailing the dangers of a diet high in corn products
The file FARM.csv contains data on output quantities (QL, QC and QO), input quantities (XK, XL, XA and XM) and environmental variables (ZD and ZR) for 11 states in the Northeast Farm Production Region of the U.S.
What determines the size of the employment effect of a minimum wage increase in the model of perfect competition - What is meant by monopsony power and why might firms have it?
Explain the di?erence between an autoregressive and a moving-average process. Why are AR and MA processes referred to as stationary processes?
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