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What is a government budgetdeficit? How does a federal budget deficit affect the economy? Howdoes it affect the level of investment and interest rates? How doesit affect the individual consumer?
Economists also use the principle of comparative advantage to advocate free trade among countries as a better policy. Trade is not based on absolute advantages countries have but the relative (comparative) advantage. 1. Does free trade contribu..
The wage paid to engineers is $4000, while technicians, who are not as skilled as engineers, receive $2000. The firm's budget on a particular project is $28,000. How many engineers and how many technicians should be hired in order to maximize p..
A monopolist is currently producing a level of output where Price = $110; Marginal Revenue = $10; Quantity = 100; Total Cost = $15,000; Marginal Cost = $10; Total Fixed Cost = $4,000.To maximize profits in the short-run, the monopolist should do.
Using the Internet, library and/or other resources, research and briefly explain 2-3 methods currently being used to encourage economic growth for the typical firm in Hong Kong and for the typical firm in Singapore.
The private marginal benefit for commodity X is given by 10 - X where X is the number of units consumed. The private marginal cost of producing X is constant at $5. For each unit of X produced, an external cost of $2 is imposed on members of socie..
After a holiday stores begin to offer temporary discounts for many goods. Can you explain why they offer the discounts What can we say is happening to the Demand or Supply curve for prices to come down What can we say about how consumers react t..
John Maynard Keynes believed that wages may be inflexible in the downward direction. Consequently, an economyA) could get stuck in long-run equilibrium. B) could get stuck in a recessionary gap. C) could get stuck in an inflationary gap. D) would alw..
Problem based on Oligopoly and demand curve, Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?
Explain: "without a market for pollution rights, dumping pollutants into the air or water is cost less; in the presence of the right to buy and sell pollution rights, dumping pollutants creates an opportunity cost for the polluter.
You are a factory owner who has just purchased a new machine for $5,000. Over the next year, it would have cost you $1,000 to rent this same machine. If the machine sells for $5,000 one year from now, what is the rate of return on this asset?
A firm is currently producing in the elastic portion of its demand curve. What course of action do you recommend for it assuming it wants to raise revenue Continue producing at the current output level
What is a specific problem facing the United States Congress where would I be able to find articles information about problems in education.
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