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Base states that it is not just technology that changes so quickly, but also the impacts which they have upon society. Do you agree? How does that align with the assertion in the lecture that we are now living in a third great technological transformation called the Knowledge Revolution? Have computers truly changed our lives so much that we can call this a revolution like the Industrial Revolution of the 18th century?
You live in a small town with basic medical care facilities and a couple of general practitioner physicians. One of the physicians has said that your cousin needs to be seen by a specialist. However, the nearest specialist is 3000 miles away, on the ..
If the Fed wished to defend the exchange rate of the $ (i.e. prevent the $ exchange rate from falling) what policy action could it take? Explain.
You borrowed $20,000 at a rate of 12% compounded monthly. It will be paid back in 60 equal payments over the next 5 years. Immediately after your 30th payment, you decide to pay off the balance. How much do you have to pay?
Calculate point price elasticity a a price of $3 and calculate the point price elasticity at a point of $9. Is the demand price elastic or inelastic at these points?
Explain in your own terms what is meant by a "Point of diminishing returns." Relate it to cost, effort, and return on investment.
Assume you are currently working in a government job that pays$20,000/year and you have $40,000 in an account earning 10% interest. You have the opportunity to buy a fruit orchardthat produces $23,000/year in revenue for a price of $50,000.
The Economic impact of the Baby Boomers on the US economy? prepare a paper and present it in the class by a powerpoint. Please use scholarly references and statistical data to support your argument
Participate in a discussion with your classmates regarding how international trade affects our lives. You have a big stake in the politics of free trade versus international trade protections. As a buyer, your self-interest is hurt by tariffs and quo..
Tom gains utility from consumption C and leisure L. The most leisure she can consume in any given week is 112 hours. His wage is $20. His utility function is U(C,L) = C^3/4*L^1/4. Tom receives 640 each week from her great-grandmother. What is the mar..
Provide examples of different tools businesses use to identify the elasticity of their different customers. Also elucidate how the financial aid department determines student elasticity.
You are the manager of a monopoly that faces a demand curve described by P = 85 - 5Q. Your costs are C = 20 + 5Q. The revenue maximizing output is
For each of the following transactions, how much does US GDP increase? And how much, if at all, do consumption, investment, government purchases and net exports change? Peter Rich buys a 1928 painting by Pablo Picasso at an auction for $1 Million. In..
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