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The challenge that an economy will be facing is how to deal with an externality. You will find that an externality is a cost or benefit to a third party. A positive externality is a benefit to a third party and an example of that would be education. How do you think the government can increase the amount of education within the economy?
Sarah earns $500 per week selling baskets made out of tree vines. With this money she buys sushi and rose bushes. Each piece of sushi costs $1 and each rose bush costs $10. If Sarah spends $170 per week on sushi, the maximum quantity of rose bushes c..
What is globalization (please define it both as a process and outcome) What factors can you identify in explaining why globalization occurred How do you assess its impact upon both rich countries and poor ones, in particular, the issue of inequality ..
A film processing laboratory uses 37.5 liters of developer per week and is open for business 50 weeks in a year. Administrative and other costs of ordering a consignment of developer are $15 and it costs $10 to keep one liter of developer in stock fo..
When the farmer makes this discovery, what happens to the opportunity cost of wheat, measured in bushels of corn?
q1. suppose that the government imposed a 1 tax each time someone used the atm. how would this effect output and the
q1. pick a society and time in history you would consider that the vast majority were doing very well economically.
All other things being equal which of the following is not likely to lead to faster growth of GDP per capita if we assume diminishing marginal product of capital improving government starting poorer higher savings rates higher population growth
Suppose that you invested $10,000 dollars using the dollar-cost-averaging approach. Assume that on Feb-1-10, and on Feb-1-11, you purchased $5,000 worth of stock (each year). You then held the shares until they were sold on Feb-1-2014 (assume you rec..
Suppose a nation has a pegged exchange-rate system and you are the nation's chief central banker. Explain what policy actions you would take to maintain the exchange-rate regime under the following circumstances.
What is the miracle of aggregation? What does the miracle of aggregation have to do with uninformed voters? What is systematic error? What is rational irrationality?
Determine the total consumer surplus and the total producer surplus; Label these areas on your Graph.
The graph above depicts a situation where, if the market demand for the product increases, the prices of the resources used by the firms in the industry would
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