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Resource price differentials that do not trigger the reallocation of resources are known as
a. temporary differentials
b. market differentials
c. conditional differentials
d. permanent differentials
e. sustainable differentials
If consumption and government purchases go up, what happens to GDP in the long run. Show this graphically.
U.S. Budget Deficit: Visit the website of the Congressional Budget Office and find the U.S. Federal deficit (surplus) and total debt. As late as 1992, the United States was running budget deficits of nearly $300 billion.
Medium household income in County C is $54,021. Medium household income in Country D is $28,739. In County C, 17.4 percent of residents smoke. In County D, 28.4 percent of residents smoke. What is the arc income elasticity of demand for tobacco use?
q.assume that py increases by 15 what percentage effect on quantity demanded of product x could be expected?compute the
If extension of provisions is made to final goods but not to intermediate goods, what would this do to effective rate of protection (ERP) for country provided by its tariff schedule.
“Pay for performance” schemes may take several forms. One is a piece rate scheme, in which there is an explicit mathematical formula that translates workers’ output into pay. (For example, a worker might be paid $5 per unit of out put he or she produ..
Merk is a biotech division of Bayer Pharmaceuticals. In its eight years of existence, Merk has had only one drug make it into clinical trials.
q1. if capital is measured on the vertical axis and labor is measured on the horizontal axis the slope of an isoquant
Smoking is banned from most public buildings in most states across the U.S. today. What type of market failure is the smoking ban intended to address. Illustrate what other options might be considered.
q1. the third largest city of a country has a population of 12.5 million. using the ranksize rule what is the
Compute the (point) cost elasticity of demand when cost is $700. Is demand elastic or inelastic.
q.suppose the consumption of gold offers people a marginal utility that diminishes as that person consumes more gold.
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