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In a market economy,
a. supply determines demand and demand, in turn, determines prices.
b. demand determines supply and supply, in turn, determines prices.
c. the allocation of scarce resources determines prices and prices, in turn, determine supply and demand.
d. supply and demand determine prices and prices, in turn, allocate the economy’s scarce resources..
Explain the basis of one of the Leading Economic Indicators. What local indicators of improved economic conditions might one see in his or her local community, town or city?
If an economy is in short-run equilibrium that is below potential, what forces will bring the economy to long-run equilibrium?
In 2010, 500 radios were produced and 100 computers were produced. price of radio was 100 and computer was 1,000. In 2015, 550 radios were produced and 900 computers were produced and price of radio was 150 and price of computer was 400 Compute the p..
For each of the following transactions, how much does US GDP increase? And how much, if at all, do consumption, investment, government purchases and net exports change? Peter Rich buys a 1928 painting by Pablo Picasso at an auction for $1 Million. In..
Research, identify and discuss some of the environmental issues faced by business and society as well as at least two strategic approaches organizations are using to respond to these issues.
q1. studies have fixed the short-run price elasticity for gasoline at the pump at -.20. suppose that international
assuming that the marginal utility of the first four pieces of candy was 30, 28, 24, and 18 respectively, how much total utily was derived from eating three pieces of candy?
Explain and discuss view that at beginning of 21st century in US, key macro-finance ratios were such that a decade of negligible real returns to stocks was in prospect. Are key financial ratios useful for forecasting returns to major asset classes..
An industrial firm can purchase a special machine for $22,000. A down payment of $2,500 is required, and the balance can be paid in 5 equal year-end-installments at 14% interest on the unpaid balance. As an alternative the machine can be purchased fo..
Once issued by the parent, It stays which way also all transfer benefits (tax breaks) are lost forever.
Explain how does price elasticity of demand for corn oil influence quantity-demanded of corn oil and Total Revenue earned by sellers of corn oil? Explain, using economic terms, why this is so.
Illustrate why the store's short-run equilibrium by plotting demand marginal revenue, average total cost,and marginal costs.
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