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1. Suppose the equilibrium wage for a Division 1 college athlete is $90,000, but because of NCAA rules, the university can only offer him (or her) $45,000 (full tuition, room & board). How might the university administrator lure the college athlete to choose them over others? Would this type of price control (i.e. what the NCAA allows Division 1 college athletes to receive) be considered a price floor, a price ceiling, or neither?
Elucidate in detail the interrelationships between economic facts, theory, and policy. Critically evaluate this statement: "The trouble with economics is that it is not practical. It has too much to say about facts."
Explain four macroeconomics objective from conventional perspective
Illustrate the effect of each of these proposed policies in a demand and supply diagram of the gun market. For each question, show the price paid by consumers, th eprice received by producers an dthe quantity of guns sold.
Cousin Edgar is always thinking of the next business idea. This time, he plans to invest in buying two gas stations. He reckons American consumers have come to accept the high gasoline prices, and estimates world prices for gasoline to increase even ..
Calculate the optimal money growth rate needed for the Fed to hit its inflation target in the long run.
Describe why it is often asserted that exporters suffer when their home currencies appreciate in the real terms against foreign currencies and prosper when their home currencies depreciate in real terms.
Dependency theory characterizes countries as being either in the center or on the periphery
Specify the set of mutually beneficial allocations relative to the initial endowment and illustrate the set.
If you advertise and your rival does not, you will make $ 10 million and your rival will make $ 3 million. If your rival advertises and you do not, you will make $1 million and your rival will make $ 3 million.
Use the principles of supply and demand to address a predetermined goal (set by the student) in the gasoline market. Be clear on what the current market indicates and why and what your future goal is.
Elucidate what happens to real GDP when it is initially to the right of the equilibrium point and why. Indicate two public policies which would be appropriate for addressing this situation.
Illustrate what closing time should Citywide Spirits Shoppe choose to maximize profits.
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