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1.What are fallacies? How does the belief in fallacies cause average people to do worse? Explain.
2.Why is it when government officials and powerful people believe in fallacies those problems are magnified several fold? Explain.
3. How does the zero sum myth set people off against each other? Explain. Why are people merely not like chess pieces? Explain. How does government provided health care being free for all and granting all benefits fall into the fallacy. Explain.
Suppose the City of Klamath is considering plans to build a dam on the Klamath River. There are currently social benefits to the recreational fishermen who use the river to catch salmon.
What is one significant consequence of fractional reserve banking Banks are vulnerable to "panics" or "bank runs." Banks can only lend an amount equal to its deposits. Banks hold a portion of their deposits in gold. Banks can serve the withdrawals..
Describe the opportunity cost of good 1 in terms of good 2. Find out the opportunity cost of good 1 at the point where x1=1.
Suppose the government is running a surplus (rather than a deficit) and aggregate demand is so high that any further increases in spending will cause only inflation, with no increases in production. What should the government do with the extra mon..
In an effort to compensate for shrinking land-line customers, SBC and Bell South (owners of Cingular Wireless LLC) got into a building war with Vodaphone to acquire AT&T Wireless. If the buyout took exactly 1 year to close (i.e., end of year 1).
With respect to malpractice, would community rating of physicians or individual rating of physicians be more likely to generate efficient behavior on the part of physicians What is the impact of the number of physicians in the plan
Elucidate three arious ways in which the Federal Reserve would change the money supply.
Suppose that a firm in a perfectly competitive industry has the following total cost schedule; Compute a marginal cost and an average cost schedule for the firm.
Compute the point price elasticity of demand for bearing grease. Compute the optional price for bearing grease if marginal cost is $4.50 per unit.
Explain the differences among the long run and short run aggregate supply curves. Consider these differences and explain how an expansionary gap occurs.
Elucidate the need for full disclosure in financial reporting. Identify possible consequences of failing to properly disclose certain items in financial statements.
Why do virtually all societies create something to function as money and how did the combination of increased holding of excess reserves by banks and currency by the public lead to bank failures in the 1930s?
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