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Q1. Suppose that businesses buy a total of $170 billion of the four resources (labor, land, capital, and entrepreneurial ability) from households. If households receive $88 billion in wages, $24 billion in rent, and $34 billion in interest, how much are households paid for providing entrepreneurial ability?
Q2. General Motors Corporation (a U.S.-based firm) produces a Saab vehicle in Sweden, and sells it in the United States. How does this affect Sweden GDP? How does this affect US GDP?
Q3. Assuming oranges operate in a perfectly competitive market, use a well-labeled demand and supply model to explain how market equilibrium price of oranges is determined.
Shadow Bank 411 buys $3 million more securities in the market and "pays" for them with its account at Bank 411. Bank 411 borrows $3 million more as a first response.
Proposals for modifications of the law are formulated by committees. Under the closed rule, the legislature may either accept or reject a proposed modification, but may not propose an alternative.
Define Mercantilism, Pick a country and talk about the products they import and export with the U.S.A. Also talk about the composition of trade with relation of abundance of the two countries
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
All farmers in Trivialand are self - employed and sell all of their wares to Super Duper. Elucidate the costs incurred by all of Trivialand's busines.
Steps that a government take to ensure that sustainable development is always considered in assessing which major economic projects or investment proposals to accept
The United States is experiencing a recession and Congress decides to adopt an expansionary fiscal policy to stimulate the economy.
Does the law of diminishing marginal returns apply to this firm's production process. If so, explain why and find the quantity of labor at which diminishing marginal returns.
Find the equilibrium price and quantity after the shift of the demand curve.
The benefit of cutting down a forest is $1 million now. the environmental cost of that harvest is $10/year forever.
Use indifference curves to distinguish between income and substitution effects, using the above techniques explain why the demand curve slope downwards, What are the main criteria for designing a tax system, To what extent do you think the national..
The People's Bank of China, the country's central bank, raised the reserve requirements of its top commercial banks to put a squeeze on the credit market
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