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The American people express a relatively high degree of confidence in the military as an institution yet express less confidence in Congress than in other major institutions. Could people be holding various institutions to different standards, and if so, what might these standards be? Answer in 75 to 150 words.
illustrate what would need to reduce the supply of money if Canada was an open economy with a flexible exchange rate.
If it is easy for a firm to get into or exit from a market, then a firm in that market will be able to earn positive economic profits. When economic profit is positive,
For an industry with MAC = 500-2E and MDC = 3E: Calculate the socially efficient tax rate. What is the total compliance cost to the industry if the socially efficient tax is charged? What are the net social benefits of the socially efficient tax?
A lone shepherd can graze 10 sheep per year in a meadow. Each additional shepherd who uses the meadow reduces the number of sheep that can be maintained by one per shepherd. What are the net benefits to society of this outcome? What is the efficient ..
Construct a numerical example to show that the exclusion of municipal bond interest from income taxation is equivalent to a government subsidy of state and local capital spending. Explain why it costs the government (taxpayers) more to subsidize this..
As additional units are produced, the marginal revenue product falls for all firms because marginal product decreases. For firms operating in industries that are not perfectly competitive, marginal revenue product also falls because
Describe equilibrium price and quantity, and explain and illustrate with two supply and demand graphs how a change in supply and a change in demand affect the equilibrium point. Define price elasticity of demand in your own words, and provide example..
q1. americans already enjoy living standards that far exceed worlds average. should we even try to produce more do we
q1. a community wants to construct a hazardous waste incinerator for household hazardous waste. the cost of the
If the price per visit is given to be $25, at what level of visits will the maximum profit position be? What are the profits at this level? What is the quantity supplied?
Airway Express has an evening flight from Los Angeles to New York with an average of 80 passengers and a return flight the next afternoon with an average of 50 passengers. The fixed costs for the plane are $3,000 per day whether it flies or not. A) S..
Textile Workers of America is planning to strike for higher wages. Management predicts that if strike is successful, cost of labour will increase $100 per day. If strike is successful, how would this affect decision in part a to purchase a textile..
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