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Some say: “It’s not true there are substitutes for anything. If you want omelets, you need eggs. There are no substitutes for eggs in an omelet.” Analyze this argument critically. Use relevant economic concept(s) to justify your answer. (The assertion is the market demand curve for eggs is perfectly inelastic)
Based on your answers in a also b, how can you reconcile the president's statement with economics. Can you suggest how his statement could be modified to be consistent with the IS-LM model.
In a game with eight players, each player has x > 10 coins. Each player also chooses the number of coins to contribute to a 'common fund'. The remaining coins are deposited into a 'bank'. Formulate this as a simultaneous-move game, and find the total..
How economic conditions affect interest rates and bond yields? Over the past six months, U.S. interest rate have declined, and Canadian interest rate have increased, The U.S. economy has weakened over the past year , and the Canadian economy has impr..
If the demand for a domestic currency decreases in a country using a fixed exchange rate system, what must the central bank do to keep the currency value steady?
Q1. An accountant finds that the trial balance of his client did not tally and it showed an excess credit of Rs. 69.74. He transferred it to a suspense account and later discovered the following errors.
questionfor a labor market in a city or region assume that wages under bad times is 100 and under good times is 150.
Compare and contrast the Swedish and American approaches to welfare and other income redistribution programs and policies.
What is "monopolistic" about monopolistic competition? What is "competitive" about a monopolistically competitive market? Please explain.
When a tax is placed on the buyers of cell phones, the size of the cell phone market
Under the pressure from the Congress, the U.S. Federal government has been working hard to reduce, or at least not to expand, the budget deficits and national debts. Meanwhile, the Fed keeps pumping money into the economy since the financial crisis t..
Draw a market with a negative production externality. What kind of instrument (policy) do you use? What's its magnitude? What does the policy lead agents on both sides of the market to do?
Caroline has opened a new startup company in web design. Within the first month of business, the startup agrees to maintain an accounting firm’s website in exchange for someone doing their tax returns. Which of the following principles of economic in..
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