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Q. As we've been discussing and identifying the issues that our local and global communities currently face, how do you envision our role as a global citizen changing over the next few years? What might the definition of a global citizen look like in 20 years from now? Do you see our communities growing closer together or further apart? Why or why not? One page double spaced.
Describe the equilibrium price and quantity, producer surplus and consumer surplus.
Why would the government bypass the free market in times of war? Is government rationing a better idea than rationing by price? Give reasons. How does government rationing affect the allocation of resources? Explain.
Explain the statement that "an individual bank has little ability to expand the money supply unless all the other banks expand in step". Does that simply because a conduct of one single bank cannot change the aggregate money supply?
What is the short-run equilibrium price. What is the short-run equilibrium market quantity.
What is the Federal Reserve (Fed) all about? Which Federal Reserve District Bank is closest to you? Who is the current Chairman of the Fed?
Consequently, the firms’ top accountants and financial manager argue that the firm should raise the price of the product 10 percent above its original target to help recoup some of these costs. Does such a strategy make sense? Explain carefully.
q.we compare the welfare of home consumers in the no-trade situation and under free trade.a. under perfect competition
What is the difference between an economic profit and an accounting profit, give an example? 3. Discuss the difference between diseconomies of scale and diminishing returns. Based on the cost curves which is more likely in businesses?
Elucidate Adam Smith in The Wealth of Nations asserted that the pursuit of self-interest by competitive firms promoted the interests of society.
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.
Assuming that the marginal cost is zero to provide the rides to those in attendance, what is the best pay-per-ride price
Provide an example for each about decision-making, interaction and workings of economy. Explain how that influences marginal benefits and marginal costs associated with decision to purchase a house.
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