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Should the measure of imports used in the GNP (or GDP) accounts therefore be defined to include only imports of final goods and services from abroad? What about exports?
Three students want to order pizza for dinner and they have decided to play the following contribution game in order to collect the money. Each student takes turns in order to place money inside a jar. If at least two students contribute the pizza..
Holding other factors constant, will the quantity of investment spending increase more in the closed economy or in the small open economy Explain. Assume prices are flexible and that factors of production are fully employed in both economies.
As an industry moves from being a monopoly to a monopolistically competitive one (due to the entry of new competitors as the monopoly's patents expire, for example), what happens to the elasticity of the demand curve facing the firm
For each hour of work, the employer deducts $1 and sends the money to the city government. The initial wage (Before the tax) is $10, and total employment is 20,000 hours per day. Use a graph to show the effect of the tax on the equilibrium wage an..
Discribe in detail ONE factor of how government involvement in the marketplace can impact or not impact the economy.
During August 2009. 80 people lost their Jobs and didn't look for f new ones, 20 people quit their jobs and retired, 150 unemployed people were hired, 50 people quit the labor force,and 40 people entered the labor force to look for work. Calculate..
Explain how would the number of workers hired (variable input) change. This is a profit maximizing firm, also explain the profit maximization condition the firm uses.
Price can be substituted for marginal revenue in the MR = MC rule when an industry is purely competitive because price minus cost equals marginal revenue. and marginal cost are the same in pure competition. is the same as average revenue.
Based to the News, how much more did the average household spend on appliances, electronics, and furniture when it received the 2008 tax rebate?
A firm hires four workers and rents 16 acres of land for a season. It produces 150,000 bushels of crop. If it had doubled its land and labor,production would have been 335,000 bushels. Does it have constant, decreasing , or increasing returns to s..
Elucidate possible consequences of failing to properly disclose certain items in financial statements.
They produce fewer pounds of choice meat per carcass. More than a third of the animal is ground up into buffalo burger, meat too lean to make good patties.
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