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1. T/F According to microeconomics, individuals tend to act in their own self interest. However, Mankiw offers no recommendations in the opening chapters of his text for how humans can re-sculpt their brains so that their expression of self interest is more in line with cultivated positive qualities, such as compassion and gratitude.
2. T/F The positive qualities of mind and heart—such as love, compassion, and gratitude—are mostly built from positive experiences—not just from witnessing life as it is.
What are the opportunity costs of coffee for H and F?
Suppose that a company has a fixed proportions production function that requires it to use two machines and one worker to produce 1000 units per hour. Explain why the cost per hour of producing 1000 units is 2v+w (where v is the hourly rent for the m..
The Federal Reserve has not formally adopted inflation targeting. The inflation target, stated or implicit, is usually around 2%. The Federal Reserve chairman credited with ending the Great Inflation is
If the firm is currently producing 30 units, what are its marginal cost and marginal revenue at the current output level?
Shirley Johnson, portfolio manager, has asked you to analyze a newly acquired portfolio to determine its mean value and variability. The portfolio consists of 50 shares of Xylophone Music and 40 shares of Yankee Workshop. Compute the mean and varianc..
Given the number of successful prosecutions being brought, whether she will reform the Welfare of Animals Act 2011
Explain how the price-specie-flow mechanism operates to maintain balanced trade between countries. What are the assumptions that are critical to the mechanism's successful operation?
Suppose in Belgium the opportunity cost of producing a trombone is 8 clarinets. In Denmark the opportunity cost of producing a trombone is 6 clarinets. Which country has a comparative advantage in the production of trombones?
Joe can make apple pie at a lower opportunity cost than Sandy but Sandy can make more apple pies per day than Joe.
If one yr later the marketplace interest rate increases by 5% also they sell the bond, this rate of return on this investment is.
Last year real GDP in the imaginary nation of Oceania was 561.0 billion and the population was 2.2 million. The year before, real GDP was 500.0 billion and the population was 2.0 million. What was the growth rate of real GDP per person during the yea..
Assume capital depreciates at 10 percent a year. Economy A has 1.000 units of capital while Economy B has 2,000 units of capital. Illustrate what must Gross Investments be in Each Economy to keep capital stocks Constant.
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