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Many economists consider medical care a superior good. Which of the following statements is true regarding a superior good?
a. Consumers want more of a superior good regardless of its price. b. When the price of a superior good increases, consumers demand more of it. c. As consumer income increases a larger percentage of that income is spent on superior goods. d. A superior good has an income elasticity of demand greater than one. e. Both c and d are true of superior goods.
Find out if, for the good marked with ALL CAP lettering, if there is the increase or decrease in demand.
you are the manager for dunkin donuts and know the following
Why is an oligopolist more likely to be able to earn a profit in the long run compared to a monopolistic competitive firm Describe the Diamond-Water paradox and the solution Explain why price is greater than marginal revenue for a single-price
In effect, the CRA and the actions of Fannie Mae and Freddie Mac acted to subsidize home purchases by people who otherwise would not have purchased houses. All subsidies must be financed by taxes, implicit or explicit on someone.
A monopolist has two types of customers. There are 100 of TYPE A, who will each pay up tp $10 for a single unit of the good, and 50 of TYPE B, who will each pay up to $8.00.
Institutional economics, especially applied to metropolitan areas, highlight problems with human capital theory and help us better understand wage differentials. Explain factors that shape wage differentials by metropolitan areas.
Mankiw discusses that if federal authorities suppose responsibility, entire financial system might well become a group of government sponsored enterprises.
Dependency” theorists believe that moving surplus labor from agriculture to industry where that labor will earn profits that can be reinvested for further growth is the key.
Based on your understanding of frictional, cyclical, and structural unemployment, do you think that this high unemployment rate can be explained by frictional unemployment? Why or why not?
you are have been asked by your senior management to prepare a report identifying the distribution channels available
The coach wants to help Omar and has asked him to lead the prayer at the next game. Omar is nervous about whether he should say a Christian prayer or a Muslim prayer. He is also concerned about how to respond to the invitations to attend church.
If the bank maintains a reserve requirement of 2 percent, what is the maximum loan that the bank A can make b) what is the maximum amount by which the money supply can by increased as a result of bank A's new loan
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