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Suppose you have just been appointed to a high level position in the economic analysis unit of the State Department. The secretary of state has asked you to prepare a memo describing the key policies and economic arrangements that a specific less developed country should follow in order to achieve rapid growth and higher income levels. During your research, you discover that multiple Christian aid organizations have been working in the country to assist the local population. Briefly describe your response. Be sure to indicate why each factor you mention is important if a nation is going to attain a high level of economic progress.
Aztec depends heavily on advertising to sell its products. Management at Aztec is allowed to spend $2 million monthly on advertising-What is Aztec's elasticity of demand for advertising?
Starting salaries of economics majors have a mean of $47,000/year with a standard deviation of $8,000. What is the probability that a random sample of 100 majors will have an average salary of more than $50,000 year?
What is the equilibrium output of such knives. Illustrate what is the equilibrium output of such knives.
Suppose that in Canada the opportunity cost of producing two television sets is three bushels of wheat. Suppose that in the United States the opportunity cost of producing 2 bushels of wheat is 3 television sets.
Elucidate why the US would subsidize the short run costs of production for tobacco farmers in foreign countries.
Create a scatterplot with age on the horizontal axis and the log of price on the vertical axis. Do older wines tend to sell for more than younger wines? Does an older wine always sell for more than a younger wine?
Assume two firms, A and B, serve a market with demand D(p) = 100 - p. Assume that (i) they have identical cost functions, c(Q) = 5Q,
GDP is the total value of all final goods and services produced in within a country in a given year. Do you think the GDP is a good indicator of economic well-being. Illustrate what other factors do you think contribute to a good standard of living.
Which of the following is the result of competing through advertising for a monopolistically competitive firm? Which of the following is true about advertising?
A firm in a competitive industry has marginal revenue which depends on the shape of the consumers' demand curve. In a competitive industry, the price elasticity of the aggregate industry supply curve will always be greater than or equal to the pric..
Suppose the effects of government policy, social diversity, and business ethics on recommendation.
What is the amount of the son's freshman year expense in terms of actual dollars? (b) What is the equivalent single sum amount at the present time for these college expenses?(c) What is the equal amount, in actual dollars, the father must save each y..
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