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A society will be at a point outside its production possibilities curve whenever
a. all resources are fully employed
b. income is equally distributed
c. some resources are unemployed
d. resources are scarce
e. none of the above
In jury selection, one cannot exclude potential jurors on the basis of race or other discriminatory criteria. One question is if this prohibition against discrimination should extend to potential jurors that have physical or mental disabilities. How ..
He proposed an increased in ethanol produced from corn and the stalks and leaves from corn and other grasses. Illustrate what is the likely impact of these two events on food prices in the United States.
If Starbucks introduces the world to premium blends, and demand rises substantially, illustrate what will happen in this market as it moves to a new equilibrium.
Consider an economy in which people wish to hold money balances worth a total of 5 million goods. They are indifferent between money issued by the central bank and money issued by private banks (as long as both offer the same rate of return). What ra..
Let aggregate consumption be given by: C = 10 + 2(Y-T), where Y is aggregate income and T is total taxes paid such that Y-T is disposable income. Should the consumption function depend on the real interest rate? Why or why not?
All of these methods help an organization mold strong, smart, motivated employees that know how to do their job and can help the organization smoothly.
Consider an economy in which the amount of investment is equal to the amount of savings (i.e., the economy is closed to international flows of capital).
Suppose a nation picks 1000 young adults at random to serve in the army. Illustrate what information do you need to determine the cost of using these people in the Army.
Describe how, if at all, each of the following developments affects income, the exchange rate, and net exports in an open economy with floating exchange rates: Suppose the government wishes to lower the exchange rate, ε, but not to change real output..
Punk-rocker Pete is feeling insecure about his long-term relationship with economist Elaine. At the conclusion of a recent date, he tells Elaine, "I feel that I derive much more utility from this relationship than you." Elaine tells Pete that his cla..
Using a supply- and- demand graph and assuming competitive markets, show and explain the effect on equilibrium price and quantity of the following:
For both of the following utility functions, draw the indifference curves for the indicated utility levels, including at least three consumption bundles on each. Derive the formula for the marginal rate of substitution for each of the people in part ..
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