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An increase in government spending would shift the IS curve to the right—and shift it by the amount indicated by the Keynesian multiplier formula--for however we have written/specified the model
According to Bacon, the objects of scientific inquiry were phenomena that could be found by unaided senses. Thinking of present day today, we live in a world with advanced technology and super machines, would Bacon change his views if he were alive? ..
At the equilibrium values, determine the price elasticity of demand. What does this number tell us?
When thousands of products and their prices are at stake, does it make sense that comparative advertising at the store level be permitted? Based on what you read and any further research you choose to do, has Wal-Mart competed fairly with its compara..
Which firm's product provides the greatest value-created. In an industry equilibrium in which the firms achieve consumer surplus parit.
How closely does the labor market for the following type of worker approximate a perfectly competitive market? What, if any, are the major imperfections in each market? a. migrant farm worker b. steel worker c. nurse d. bank executive
Which of the following must be true in an economy with a government but with no foreign trade?
Explain how does one construct a linear (or other mathematical program) to solve a competitive or walrasian equilibrium problem.
A food supplement store sold a vitamin for $2.00 a bottle and in one month sold 2,000 bottles. After a price increase, the vitamin sold for $2.20 a bottle and the store sold 1,900 bottles the next month. What is the elasticity of demand
A bonus package pays an employee $2000 at the end of the first year, $2500 at the end of the second year, and so on, for the first 10 years of employment. What is the present worth of the bonus package at 5% interest?
Assume that you are going to start a small business of your own. Describe the business and, utilizing the concepts of this unit and the earlier units, discuss: What costs you would incur;
1. How does the theory of the firm differ from short-term profit maximization? Why is the former superior to the latter? 2. What effect would each of the following have on the value of the firm? explain.
Elucidate how much will the government spend in total. Elucidate how much does producer surplus increase.
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