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If there are only two goods, if more of good 1 is always preferred to less, and if less of good 2 is always preferred to more, then:
(a) indi erence curves slope downwards.
(b) indi erence curves slope upwards.
(c) indi erence curves may cross.
(d) indi erence curves could take the form of ellipses.
(e) None of the above.
There are pros and cons if policymakers use monetary and fiscal policy to stabilize the economy. Explain the main arguments in favor of economic stabilization. Explain why policy lags could make stabilization policies counterproductive.
The government could correct the difference between the equilibrium output level and the efficient output level by
Is war only called for when our country is directly threatened by another country, or are there additional reasons to justify taking up arms against another nation? If not, then are there alternative responses our country can take to other government..
It has been claimed by a well-known papyrologist that during the 4th century the rise of prices in Egypt was a consequence of the debasement of the currency: each price rise reflected a reduction of the silver in the coins. Discuss critically.
Assume the world has only the U.S. and Germany, and that trade between them is balanced such that neither runs a trade deficit nor surplus. If exchange rates now change such that the U.S. dollar becomes more expensive for Germans to buy (and all else..
Is this projected outcome consistent with the law of demand? What is the price elasticity of demand associated with this pricing decision? Should you increase the price?
Which of the following will not result in a change in demand? (a) a change in income (b) a change in the good’s own price (c) a change in the price of a substitute (d) a change in preferences
In order to boost funding for the state of Florida or Mississippi, depending on where you are, each state has decided to start a daily drawing where people can purchase a ticket for $1 with a 3-digit number from 000-999. If the number on the ticket m..
Listed below are the weekly sales from the household department at a local discount store: $35,000, $46,000, $28,000, $35,000, $68,000, and $52,000. Find the Arithmetic Mean, Median, and Mode.
In 2013, approximately 58 percent of the adult population (245million) was employed, the lowest employment rate in 20 years. If the employment rate increased to the Prerecession level of 62 percent, How many more people would be working?
Hulk goes to the gym 20 times a month. His income is $1000 per month and his visits to the gym cost $4 per visit. For simplicity, assume all other goods that Hulk consumes besides the gym costs $10 each. Assume Hulk exhibits diminishing marginal rate..
Why would the global campaign halt the spread of the imitated medicines. With the cost of innovation and the necessity to achieve economies of scale, the pharmaceutical industry is continuously re-organizing on a worldwide scale. Explain in detail.
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