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a) What is a business cycle? With an aid of a graph, identify the phases of the business cycle
b) Why would economist expect unemployment to fall during an economy’s expansionary phrase and to rise during a contractionary phrase? Discuss and make reference to the business cycle.
1. What is an associative entity? When must a many-to-many relationship be modelled as an associative entity? Provide some examples demonstrate this issue.
An artist makes a beautiful instrument that becomes famous throughout the country. A number of claimants arise, each of whom argues that they deserve the flute: the artist who created it, the most talented musician, the poorest musician, the neediest..
q1. suppose that any punitive damages awarded to the plaintiff were to be paid not to the plaintiff but rather to say a
The U.S. cigarette industry has negotiated with Congress and government agencies to settle liability claims against it. Illustrate what effect will this have on its optimal price.
You sell consumer products in the Americas. The price sensitivity of South American consumers seems greater than for those in North America. An economic consulting firm has estimated the own-price elasticity for your most profitable product is -1.25 ..
Which of the following statements is most accurate about feasibility studies?
Briefly state the basic characteristics of pure competition, pure monopoly, monopolistic competition, and oligopoly. Under which of these market classifications does each of the following most accurately fit?
When your income goes up to $50,000 from $40,000, demand for Scotch Whiskey increases from 500 to 600. Calculate income elasticity of demand.
A perfectly A Perfectly competitive firm has a MPL = 20-L. If P = $5 and w = $10/hr. What is the optimal quantity of labor demanded?
Suppose you work as research economist at the EPA. There are two firms that operate in a perfectly competitive marker. This implies that each has the same marginal benefit curve, which in this case is horizontal at MB= $100. Each of the firms, howeve..
A manufacturer of microwaves has discovered that male shoppers have little value for microwaves and attribute almost no extra value to an auto-defrost feature. Female shoppers generally value microwaves more than men and attribute greater value to th..
Has war always been a propulsive force for economics? How about World War I? How about winners versus losers? How about England, which was on the winning side of World War II? If post-war demand was so important in getting the boom going, why isn’t t..
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