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Suppose the government sets a controlled price below the market clearing price for a commodity. Draw a diagram and use the idea of a maximum buying price to explain whether the total price paid by the buyers will end up lower or higher than before.
If the US were to triple the amount of food stamps and housing assistance, then the direct and immediate effect on US poverty rates as officially measured would be:
Within which sections of the production function is marginal product increasing. Explicate the link between scarcity, choice and opportunity cost
Assume that the price elasticity of demand is -2 for a certain firm's product. if the firm raises price so, the firm managers can expect total revenue to: A/ decrease B/ increase C/ remain constant D/ either increase or remain constant depending upon..
Suppose the country of Liliput exported 229 billion dollars worth of goods while they comported 489 bilion dollars worth of goods in the last calendar year. Calculate Liliput's balance of trade:
If the price of soda is $1 every can, Elucidate how many sodas will the consumer purchase in a typical month.
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To what degree does real GDP measure to health of an economy? How is it possible to make valid international comparisons of real GDP? Support your answer with examples.
Do we have enough money in circulation in the public? Explain. Do you think that it is necessary to control money supply. Why or why not? Explain. Is it good or bad to have too much money in circulation in the public? Explain.
The government proposes cutting taxes on investment by implementing a credit for investment in information technology equipment. The proposal would reduce government tax revenues. Describe the likely impact on the bond market .
Demand curve is P=41-Q/100 cost of labor is L= 10. The profit in function is Q=10L. What is the marginal revenue product?
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
The monthly market demand curve for calculators among economics students is given by P=100-2Q, where P is the price per calculator in dollars and Q is the number of calculators purchased per month. If the Price is $30, how much revenue will calculato..
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