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Answer all parts of it - must be at least 500 words minimum.
Give an example of market that you buy or work in. How does the market work? who is the buyer? Who is the seller in this market? How many buyers are there? How many sellers? What is the product and/or service that is being sold? How are the prices set in the market? How is the quality/service set? Are there innovations here, how do they happen? In your market, is there a surplus, shortage or Equilibrium, most of the time? When (if ever) does the market come to Equilibrium? How do you know when there is Equilibrium?
Pick ONLY one Market - either a product and/or service market or a specific Labor Market that you can talk about. Be specific on the above questions about your market.
You’ve recently learned that the company where you work is being sold for $275,000. The company’s income statement indicates current profits of $10,000, which have yet to be paid out as dividends. Assuming the company will remain a “going concern” in..
Suppose you are offered the alternative of receiving either $3000 at the end of five years or P dollars today. There is no question that the $3,000 will be paid in full (no risk). Because you have no current need for the money, you would deposit the ..
Elasticity is a measurement of how much a change in price of a product or service will affect a change in the quantity demanded or supplied of that same product or service. The product or service can be unit elastic, inelastic, or elastic. Why is the..
In general, The problem with increase in health care usage due to better health insurance is: There is no significant improvement in health status if the person is sick. there is no significant improvement in health status if the person is not sick.
There are two types of coal mines in operation: “above-ground” mines, which involve very little risk to the miners, and underground mines, which are considerably more dangerous. What would be an economist’s estimate of the value of a statistical lif..
By definition, the budget deficit equals the rate of change of the amount of debt outstanding: δ(t)=?(t). Define d(t) to be the ratio of debt to output: d(t)=D(t)Y(t). Assume that Y(t) grows at a constant rate g>0. Suppose that the deficit-to-output ..
Assume that you live in a simple economy in which only three goods are produced and traded.
Explain how the Fed's use of its three tools of monetary policy affect supply and demand in the market for reserves and the equilibrium federal funds interest rate.
Find the per worker production function. Find the steady-state capital stock per worker as a function of the savings, population growth, rate of technological change and depreciation rate. How much is steady state per capita GDP growth?
A 10-year zero coupon $100 face value bond has yield of 6%. Through series of unfortunate circumstance, expected inflation rises from 2% to 3%. Assuming the nominal yield rises by an amount equal to the rise in expected inflation, compute the change ..
What are the three actions that the federal government can take to fight recession using fiscal policy?
2) The probability is 65% that the average spending of a sample of 25 randomly-selected students will spend at least how much?
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