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If a new home can be constructed for $150,000, what is the opportunity cost of federal defense spending, measures in terms of private housing? (assume a defense budget of $600 billion)?
The price received by sellers in a market will decrease if the government imposes a binding price floor in that market or else.
Can democracy survive if a majority of the citizenry pay little or nothing in taxes while benefiting directly from a higher level of government spending? Why or why not? Discuss.
Select any four of the six summary statements and explain in detail the significance and possible causes of each item. Be sure to use the economic concepts and polices discussed in your textbook where applicable. Identify possible economic policie..
If a representative firm with long-run total cost given by TC = 50+2q+2q^2 operates in a competitive industry where the short-run market demand and supply curves are given by Qd = 1,410 - 40P and Qs = -390 +20P, its long-run profit maximizing leve..
Does either hospital have a dominant strategy (or any dominated strategy) Assuming they determine their strategies independently or one another, what are the hospitals' respective (Nash) equilibrium strategies Explain briefly.
Assess the possibility for the euro to become another global currency rivaling the U.S. dollar. If the euro really becomes a global currency, what impact will it have on the U.S. dollar and the world economy?
Name various areas of business in the US (or world) where the prevailing market structures have changed dramatically in the past twenty years and discuss the direction of the change.
How much profit does an individual producer make in a month? Is this a long-run equilibrium? If the answer is yes, simply state that it is a long-run equilibrium. If the answer is no, explain whether or not the equilibrium price will rise or fa..
Discuss should the government minimize unemployment rate? What will happen if the unemployment rate is too low?
Elucidate what does it mean to specialize according to one's comparative advantage and trade internationally and an example of a business using this principle.
Would your answer change if you thought different German also Japanese policies may facilitate different US policies.
Variables also spell out the assumptions related to the use
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