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Evaluate the following statements as True or False, then explain your answer:
a. if relatively more drug users are addicts rather than casual users, prohibition will be more effective. Is this statement true or false? Explain.
b. the interest income that could have been earned on money invested in a college education is not relevant to the decision to attend college. is this statement true or false? Explain.
c. increases in aggregate demand will always result in an increase in employment. is this statement true or false? Explain.
d. expansionary fiscal and monetary policies would not be very effective in dealing with the unemployment problems experienced by most European nations. is this statement true or false? Explain.
e. the prospect of Social Security benefits has induced workers to retire at earlier ages. Is this true or false? Explain.
To what extent is to greek proverb "Happiness is the full utilization of your capacities along lines of excellence." similar and different from the traditional definition of economics.
Illustrate the effect on the marketplace for a hr. of babysitting services 30 yrs into the future when children born today.
What is the market equilibrium cost. What is the equilibrium number of firms in the market.
Explain the equilibrium price will remain unchanged, smokers will consume the same number of cigarettes. Do you agree or disagree with this view.
One morning, you are the first caller to identify a song contest hosted by a local radio station. As a prize, you won a free concert ticket worth $50. Unfortunately, the concert is the same night that you have to work at your $10/hour job. If you wen..
What is the relationship between an economy’s production possibilities curve and its long-run aggregate supply curve? Check all that apply.
The dominant employer in Davis is UCD. Some argue that UCD uses its market power to lower the wages of some of its staff, especially those in lower-skill jobs. Show how this might work, using an inverse supply of labor of w = 3 + .2L, where L is the ..
If average movie ticket prices rise by about 5 percent and attendance falls by about 2 percent, other things being equal, the elasticity of demand for movie tickets is about:
Romans utility function os U(x,y)=6xy. The prices of goods x and y are $12 and $15. The indifference curve is tangent to his budget constraint, where he is consuming 20 units of good x. How many units of good y must he be consuming?
The GDP is $40 billion below its potential value. It is expected that next-period GDP will be $20 billion below potential and that two periods from now it will be back at its potential level. The multiplier for government spending is 2. What is the b..
A gardener can use one of the three brands of fertilizers during the next growing season. The following decision table shows the expected gross income per acre for each fertilizer brand and weather condition for the growing season.
Illustrate what is the likely bargaining negotiation outcome if the advertisers bargain by telling each newspaper that they're going to reach agreement with the other newspaper.
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