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Q. One of basic economic laws is ‘law of one price.' It says that provided certain assumptions one would expect that if free trade is allowed, price of goods in countries should converge. a. Can you list illustrate what three of those assumptions likely are? b. Should law of one price hold for labour also? Why or why not? c. Should it hold for capital more or less so than for labour? Why?
McDonald's has enough time to hire or lay off workers but it does not have enough time to expand its kitchen or add an additional seating area.
The number of taxicabs in Motorville and the taxicab fares are regulated. The fare currently charged is $5 a ride. Motorville taxicab drivers want to obtain government's permission.
BUS499(2011A) Final Exam: - Critically argue whether GDP is a good measure of economic well-being. You are required bring examples and academic references to support your answer.
How many times would Mexico's 2005 real GDP per person have to double to reach the United States' 2005 real GDP per person.
Given the experience of the last several years, Elucidate how has the valuation of dot.com changed.
Suppose that your production facility can only produce 1,000,000 pills per year. Illustrate what is your optimal price and quantity given the production constraint.
Illustrate what do the nominal interest rate also the real interest rate that Whitney can earn. Whitney puts money in a savings account at her bank earning.
Assume a central bank does not satisfy the Taylor principle. Use a graph to analyze the impact of a supply shock.
Illustrate what is the graph among utility and income,when marginal utility of income increases or deminishes.
When and where did modern economic growth first happen. What are the major institutional factors that form the foundation for modern economic growth. What do they have in common.
Illustrate what should be the construction level if fixed costs rose to $48,000 per month?
Explain how can multiplier have a -ve effect. What is the relationship among the multiplier as well as the marginal propensities.
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