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Which of the following represents a mandatory government outlay?
an interest payment made to holders of government debt
a payment made to a construction worker who was hired to pave a road
the payment of health care expenses for those participating in the Medicare program (health care for the poor)
rental assistance payments made to those who are poor
the purchase of a new tank to replace a tank destroyed during a war
Illustrate what happens in the long run when the patent expires also other firms are free to use the technology.
What are the major theoretical rationales behind the ISI (import substitution industrialization) strategy? How do you evaluate its success and/or failure? What developments were responsible for its termination in most Third World countries?
A movie monopolist sells to college students and other adults. The demand function for students is QdS = 800 100P and the demand function for other adults is QdA = 1800 100P. Marginal cost is $2 per ticket. What prices will the monopolist set when sh..
Historical data suggests that in the athletic shoe industry, the price elasticity for shoes is approximately -0.67. Explain what price elasticity is, and how to interpret the stated elasticity for athletic shoes of -0.67. What effect would you expect..
Suppose you are given the following Total Product Function: ,where Q is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function. Suppose K = 1,000; L = 200 workers; and M = value of..
q1. assume that the autarky charge of commodity x is 10 in nation a 8 in nation b as well as 6 in nation c as well as
Explain how do you run an oligopoly to make the largest possible profit. The oligopolistic producer of this vehicle failed to heed market signals. It failed. Can you name the company.
Determine how much a car owner would be willing to invest to achieve the new energy efficiency standards of 54.5 mpg. Assume that gasoline sells for $2.50/gallon and the owner expects to receive a 5% return on their investment. The owner travels 15,0..
Explain utility, total utility and marginal utility and the differences between them. Explain with examples the law of demand and the demand curve. Explain “the rational consumer, marginal utility and price. With examples explain how elasticity of de..
Illustrate what's the equilibrium price and quantity in the free market equilibrium. what's the best tax to impose on the power plant, why.
Why did the ban effect the price? Illustrate using a figure and explain. Show the welfare effects in your figure. Use a table to show who gains or loses.
No one can predict a natural disaster or world crisis. When a hurricane or flood or a pandemic strikes a country, who is most likely to respond first? Which economic system is the best solution to handling a crisis of epic proportion?
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