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The Federal Government had a budget surplus in 2001 but a budget deficit in 2002. This was due to the recession, the tax cut, and the increased military spending. The change from a budget surplus to a budget deficit was due to Midterm 4.0.pages
(a) neither cyclical nor structural factors.
(b) cyclical factors but not structural ones.
(c) structural factors but not cyclical ones.
(d) both cyclical and structural factors.
Suppose that in some two-player game, s1 is a rationalizable strategy for player 1. If s2 is a best response to s1, is s2 a rationalizable strategy for player 2? Explain Suppose that in some two-player game, s1 is a rationalizable strategy for pla..
Discuss the following statement from the standpoints of equality and efficiency: "When workers are laid off, they should be able to collect unemployment benefits until they find a new job."
A new production technology for making vitamins is invented by a college professor who decides not to patent it. Thus, it is available for anybody to copy and put into use.
Perfect competition guarantees allocative efficiency. A profit-maximizing monopolist can never be allocatively efficient.
Assuming the phone company has to charge the same monthly rental fee and unit price to all its customers, at what level should it set these charges?
What factors make the Fed independent from politics? Why is there so much political pressure on the Fed, despite its independence - How does the Fed work to protect itself from political pressure?
Explain why do you think the labor supply curve for very gifted or unique people is quite inelastic.
Briefly explain in words the sequence of changes that occur as the two economies move from no trade to free trade.
List the various causes of inflation and determine if they are an injection or a leakage. Justify why you selected injection or leakage.
In a situation in which a gift certificate leads a consumer to purchase a greater quantity of an inferior good than he or she would consume if given a cash gift of equal value. Is this always the case
A good which if supplied to one person is supplied to all and whose consumption by one individual does not prevent its consumption by another individual is known as: a private good. a public good. an external good. an internal good.
What do you think that they would be able to effectively reflect the true marketplace benefit and price.
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