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Eric Williams contends that plantation slavery in the West Indies helped bring about the development of a market economy in England. Name one argument he uses to explain it, and carefully explain how it helped foster a transition to the market solving the economic problem in England. You should focus on either the creation of demand or production for sale.
If public opinion surveys show that the majority of Americans regard inflation as a more serious threat than unemployment: Does this imply that the majority of Americans would rather be unemployed in a period of stable prices than employed in a time ..
Due to ever-accelerating technological growth, _________________ unemployment is on the rise worldwide.
Management charges higher highly rates in the winter, when its average occupancy rate is 85 percent. Explain can this policy be consistent with profit maximization.
Alice and Barbara are playing a one-stage guessing game. Each must choose a number between 1 and 8 (inclusive). Alice’s target is to match Barbara’s number. Barbara’s target is to name twice Alice’s number. Each receives $10 minus a dollar penalty th..
Suppose there are two types of shirts available to Carl: red shirts and black shirts Carl is always willing to exchange three black shirts for one red shirt. What type of preferences is mike exhibiting? Are Carl's preferences monotonic? How do you kn..
Susan and Stan Collins live in Iowa, are married and have two children ages 6 and 10. In 2014, Susan adjusted gross income is $38,000 and Stan is $12,000 and both are self-employed. They also have $500 in interest income from tax-exempt bonds. The Co..
Illustrate what were its consumption and government expenditures on goods and services.
An investor is trying to decide between 2 mutual funds. Mutual fund #1 offers a slightly higher return than mutual fund #2 so the investor decides that he will invest in mutual fund #1 unless the risk of mutual fund #1 is significantly higher than th..
q.a monopolist faces the inverse demand for its output p 30 - q the monopolist also has a constant marginal and
At the end of its third year of operations, the Sandifer manufacturing Co. had $4,513,000 in revenues, $3,333,000 in cost of goods sold, $446,000 in operating expenses which included depreciation expense of $152,000, and a tax liability equal to 34 p..
Boris budgets $9 weekly for his morning coffee with milk. He likes it if it is prepared with 4 parts coffee, 1 part milk. (Milk and coffee are perfect complements here). Coffee costs $1/oz, and milk $0.5/oz. Draw his budget constraint and indifferenc..
Select a company outside the retail drugstore industry and, based on reading its annual report and other public information, discuss what you perceive to be its competitive strategy (i.e., low-cost producer or differentiation). Discuss your findings ..
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