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(a) Provide examples of three types of product differentiation that could help make a firm in a particular industry more competitive. (b) Provide an example of an industry where product development and product differentiation is an important type of competition among firms. (c) Provide an example of an industry where product differentiation is not an important type of competition among firms.
The story of entitlements such as health care and welfare payments to the elderly in the US is pretty ----. This is partly because these payments form---part of the government budget and they are----
Briefly discuss what measuring inequality involves, and provide two examples for doing so. measuring income inequality means dividing up the population into various groups and then comparing the groups.
When recording devices were first invented almost 100 years ago, musicians could suddenly supply their music to large audiences at low cost. How do you suppose this development affected the income of the best musicians? How do you suppose it affected..
A manager from a developing country is overseeing a multinational's operations in a country where drug trafficking and lawlessness are rife. One day, a representative of a local "big man" approaches the manager and asks for a "donation" to help the "..
The Federal Reserve has increasingly favored the use of Repurchase Agreements as part of its open market operations. Briefly describe these and why the Fed or banks prefer to use them.
Outline some poly options for government intervention. Describe how market power prevents optimal outcomes. Explain how externalities distort market outcomes. Explain how the economic growth is measured.
In a small, rural community, the aggregate labor supply curve is given by L^s = -40 + 10w and aggregate labor demand by L^D = 160-10w, were w is the hourly wage rate. After a national story about the quality of life in the small town, migration shift..
Distinguish between liberal economics and conservative economics. Why is macroeconomics an inherently political subject? Summarize the problems that can be created by rapid inflation. How can inflation become self-perpetuating?
Illustrate what is explict opportunicy cost of attending college. what is an implicit opportunity cost of attending college.
As we discussed, there are many different interest groups that exist in the United States today. For this activity, you will choose one such group and do some research to figure out what it does and how it does it. Research the web and other resource..
According to the IS-LM model, what happens to the interest rate, income, consumption, and investment under the following circumstances? Support your answer with suitable diagrams.
If r is 1 percent, what is Y along the LM curve? If r is 3 percent, what is Y along the LM curve? If r is 5 percent, what is Y along the LM curve?
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