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If a dealer of rare artifacts purchases a 2nd Century Roman Vase for $250,000 and sells it to a wealthy collector for $320,000 during a given year, how much has been added to GDP for that year? A. Nothing, because the vase was produced centuries ago. B. $20,000 C. $320,000 D. $70,000
BMW has MC=$20,000 and FC=$10billion. Demand for markets in Europe and US are Qe=4,000,000-100Pe and Qu=1,000,000-20Pu. Prices and Costs are given in thousands.
Suppose a closed economy, with fixed prices, represented by the following set of equations, Where, D is the aggregate demand, and C is consumption;
How do economists distinguish between the absolute and relative sizes of the public debt. Why is the distinction important Distinguish between refinancing the debt and retiring the debt. How does an internally held public debt
Roller manufacturing is relatively simple, requiring only labor and a machine that cuts and crimps rollers. As you begin reviewing the company's production information, you learn that labor is paid $8 per hour and the last worker hired produced 10..
If High-Time lowers the price, Illustrate what will be the new evel of quantity demanded. Of the new revenue
Explain what happens to the nation's aggregate supply curve, the short-run equilibrium level of output, and the price level if:
What are government's fiscal policy options for ending severe demand-pull inflation? Which of these fiscal options do you think might be favored by a person who wants to preserve the size of government?
You are the manager of Taurus Technologies and your sole competitor is Spyder Technologies. The two firms' products are viewed as identical by most consumers. The relevant cost functions are C(Qi)=4Qi and the inverse market demand curve for this u..
The demand for coffee cakes is less than or equal to 4. Five pounds of flour and 2 pounds of sugar are required to make a pan of coffee cakes, and 5 pounds of flour and 4 pounds of sugar are required to make a pan of Danish pastries. A pan of coff..
global positioning units for cruise missiles by the government. new chalk by a local school board.
For automobiles BWC sells chrome wheels for automobiles. At a price of $600 per set, they sold about 900 sets per month. Illustrate what is the arc price elasticity for this product.
Explain the antitrust laws in the US stricter also more comprehensive compared to those of other industrialized country.
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