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Suppose the World Bank provides a poor country with equipment on indefinite loan.
a) What is the effect on the real wage and hours worked in the short run? b) What is the effect on the real wage and hours worked in the long run? Explain your answers.
The advent of the one man bus involved more capital equipment: an automatically operated coin box and door control device - to name two of the capital goods that replaced the conductor."
The annual demand for coffee by the U.S consumers is Q = 250 - 10P. Compute the lost consumer surplus?
A study sponsored by the American Medical Association suggests that the absolute value of the own price elasticity for surgical procedures is smaller than that for the own price elasticity for office visits. Explain why this would be expected
Jermaine has a health insurance policy that has a deductible of $1,000, a $10 copayment on doctor visits, and coinsurance of 10% on all expenses other than those for which there are copayments.
What is the difference between the medium of exchange and the store of value? What is the difference between commodity money and fiat money?
Provide a report to management of the firm as to whether or not it should continue to operate at a loss?
Currently, the extent of our economic difficulties has caused the economic policymakers to choose fiscal and monetary policies that are both expansionary.
Why might it be difficult for the Fed to formally adopt inflation targeting? Would inflation targeting be a good policy for the Fed in the present economic environment
In national income accounting identity showing the equality between national saving and investment, what is the representation of private saving and what is the representation of public saving?
Find the optimal level of inputs L* and K* that minimize the cost of producing Q0. What is the cost of production associated to L* and K*?
In the following list a number of well-known companies and the products that they sell. Which of the four types of markets (perfect competition, monopoly, monopolistic competition, and oligopoly)
Write down the relationship between savings, capital formation, and consumption.
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