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In a reward contract, for example, a person who has lost a dog could promise a reward if the dog is found, through publication or orally. The payment could be additionally conditioned on the dog being returned alive. Those who learn of the reward are not required to search for the dog, but if someone finds the dog and delivers it, the promisor is required to pay?
transactions analysis and trail balance make t-accounts for the following accounts that appear in the general ledger of
a. Calculate the equilibrium level of income or real GDP for this economy. b. What happens to equilibrium Y if I(g) changes to 10? What does this outcome reveal about the size of the multiplier?
Suppose the price of the good is initially $100. What is the price elasticity of demand at this point? (Hint: What happens to the quantity demanded when the price drops by 10%?)
In some of these countries, there have been moves to privatize the economy by selling state companies to private owners. Would the countries have borrowed more or less if their economies had been privatized earlier?
Explain by how much should domestic automakers raise the price of automobiles if they wish to increase sales by 5 percent next year?
Assume a country that basically consumes 100 pairs of shoes per hour, all of which are imported. The price of shoes is $40 per pair before a ban on importing them is imposed.
Compute the percentage change in nominal GDP, real GDP, and the GDP deflator in 2002 and 2003 from the preceding year. For each year, identify the variable that does not change. Explain in words why your answer makes sense.
A depreciation of a countrys currency is likely to:a. leave GDP unaffected because it would cause an equal changein imports and exportsb. increase its GDPc. decrease its GDPd. increase consumption, but
A computer may be bought for £1,490 cash or on hire purchase terms. Ken bought the computer on hire purchase terms.
determine the main differences between microeconomics and macroeconomics? give an example of a microeconomic and
The Law of Demand states that the demand for a product is inversely related to the price of such product. Therefore, the demand for a product is considered downward sloping. This implies that quantity demanded increases when price decreases. Is th..
Which of the following is/are an example of involuntary unemployment ? 1. a housewife 2. a student
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