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Q1. The city council realizes that the telephone company could curtail pay phone service in response to the ceiling. To prevent this, the council plans to impose a requirement that the telephone company must maintain the current number of pay phones. In light of this additional restriction, what will be the likely impact of the price ceiling?
Q2. At the market-clearing price and quantity of $30 per hour and 4000 hours of gardening services, we can say that
a) Economic surplus could be increased at a higher price because firms would generate more revenue.b) The market is efficient because the government has imposed a market-clearing price and quantity.c) Economic surplus could be increased at a lower price because there would be more value to consumers.d) The market is inefficient because there are some consumers who are not purchasing at this price.e) Economic surplus is maximized and the market is efficient.
Describe the difference between Economic contraction and Economic expansion
Enterprises conduct business transactions with other enterprises for a number of economic, business and strategic motivations.
Willie will receive all his operating expenses, and in addition will receive $2,000 each year for the decline in value of the automobile.
As an analyst at the Treasury Department, you have been asked to predict the behavior of key macroeconomic variables for different scenarios on the state of policy between the US and Europe.
The US government could not pass its annual budget. As a result, the US government has partially shut-down: roughly about 800000 federal employees of non-essential services are out of work
Sharp rises in the cost of milk, grain, and fresh fruits and vegetables are hitting cafeterias across the country, forcing cash-strapped schools to raise prices or serve more economical dishes.
Consider a couple's decision about how many children to have.Assume that over a lifetime a couple has 200000 hours of time either work or raise children.The wage is RM10 per hour.Raising a child takes 20000 hours of time.
Explain and show graphically the effect on the supply and demand for Bonds in a deflationary period. What is the effect on interest rates and the quantity of bonds.
Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related.
Explain the role culture may play in influencing entrepreneurship both at the individual and social level. Define culture in your response.
Indicate if GDP is affected, under what category and what happens to GDP Oklahoma cleans up after a devastating tornado.
The impossible trinity refers to the idea that a country can simultaneously pursue only two of the three following policies: free international-capital flows, monetary policy for domestic stabilization, and a fixed exchange rate.
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