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Let's consider GDP. Is it a good way to measure our economy? What does this number really tell us? GDP has long been criticized as a measure for calculating the growth of an economy. Although it is not used, an alternative measuring approach known as the Genuine Progress Indicator (GPI) has been proposed in response to criticisms of the method currently used. Please respond to all of the following prompts:
•Which do you believe to be the better measuring device? Why?
jason likes to buy guitars and trumpets. his marginal utility of guitars is given by mug 7t0.310g0.3 and his marginal
The technology of a company making high end, solid gold bracelets in Soho (NYC) is explained through the production function;
If Apple reduced its price for the shuffle, what do you think would happen to their profit? What impact would the price decrease have on their competitors? Explain by considering the elasticity of shuffles).
Substituting this value into the price elasticity of demand formula we obtain ∈=
the theory of market failure prescribes government intervention in the form of a tax on producers when negative
Assuming that Disneyland wants to serve both types of consumers, find the entry fee and the marginal price under the Oi two-part tariff. Assuming that Disneyland wants to serve both types of consumers, find the entry fee and the marginal price un..
Find Louis' optimal consumption bundle of orange juice and pineapple juice each week. Suppose the price of pineapple juice rises to $2 a cup while the price of orange juice remains constant. How much additional income would Louis need to afford hi..
the following table presents data for wars in the market for internet security professionals.in the labor market the
Compare and contrast John Bates Clark's marginal productivity theory of income distribution with Marx's distribution theory.
Most macroeconomists believe it is a good thing that taxes act as automatic stabilizers and lower the size of the multiplier. However, a smaller multiplier means that the change in government purchases of goods and services, government transfers
suppose that there is a decline in the cost of a unit of capital. in the long runa. what will be the substitution
Currently, it is difficult to sue the federal goverment unless it agrees to be sued. If the law were changed so that lawsuits (such as by victims of the collapse of the I-35W bridge) were easier, how would this change the incentives.
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