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Distinguish between Positive Economics and Normative Economics. GIVE EXAMPLES.
Genentech owns a patent on tissue plasminogen activator (TPA), which is an enzyme that helps the body break down blood clots. TPA is particularly valuable to cardiac patients, since it often allows heart problems to be treated with medication rather ..
Suppose real GDP is growing 5 percent, the money supply is growing at 5 percent, the velocity of money is growing at 5 percent, and the real interest rate is 2 percent. a. What is the current inflation rate and nominal interest rate? b. If the money ..
Lay out the arguments forand against trade treaties like NAFTA, and/or for the process of"globalization" of the U.S. economy. What do you think? What is your position, positive or negative, and why do you think so? Paterson, which now has lost most o..
A business process diagram is a high level description of the information flows associated with a given activity. In addition, a Business Process Diagram allows representing the flow of different processes that occur in real life. How should security..
What would happen to GDP if the government hired unemployed workers, who had been amount $TR ain unemployment benefits, as government employees and now paid them $TR to do nothing? Explain.
An industry has two firms, each of which produces output at a constant unit cost of $10 per unit. The demand function for the industry is q(p) = 1,000,000/p. Give the best-response function for each firm. What is the Cournot equilibrium price for thi..
According to the U.S. Census Bureau, in July 2006 the United States expected aircraft worth $1 billion to China and imported aircraft worth only $19,000 from China. During the same month, however, the United States imported $83 million worth of men's..
Helping the Environment: Find a recent article discussing an innovative way in which a corporation is helping the environment. Explain why the method is innovative and whether you believe the method will really help the environment or will only help ..
Should a child born after artificial insemination be automatically considered an heir? What if it is done with frozen eggs or sperm after the death?
Assume that wages and prices are sticky and that we start at a long-run equilibrium. Assume that at this initial point, the growth rate of the money supply is 6%, the growth rate of the velocity of money is 2% and that the real economic growth rate i..
If there are only two goods, if more of good 1 is always preferred to less, and if less of good 2 is always preferred to more, then: indi erence curves slope downwards.
q.mccullough has a monopoly on rental dwellings in the local community. the demand for rental dwellings is p 1400 -
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