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Given the similarities and differences of three contending theories (Marxism, Neoclassical and Keynesianism) that you have learned in the class, briefly analyze the key factors that contributed the decline of economic systems under Marxism in late 20th century in the countries of Eastern Europe and East Asia. Give specific examples as part of your answers.
Illustrate what feature of a PPF illustrates increasing opportunity cost also elucidate why does your PPF not have this feature.
As a manager, it is important to understand how the business cycle affects supply and demand, prices, and how economic shocks will impact your company's markets, supply chain, and financing.
Given the following model: Y = C + I + G + (X - M). Suppose that : Autonomous Consumption = $ 500 MPC = 0.75 Taxes = $ 400 Investment = $ 500 Government Spending = $ 1200 Exports = $ 300 Imports = $ 500. Explicitly find the necessary change in G to g..
In the former Soviet Union, producers were paid for meeting output targets, not for selling products. Under those circumstances.
The principle that a firm should produce up to the point where the marginal revenue (MR) from the sale of an extra unit of output is equal to the marginal cost (MC) of producing the extra unit applies:
For each of the following, predict the effects on the equilibrium levels of aggregate output (Y) and the interest rate (r). Be sure you make predictions for both Y and r! During 2000, the Federal Reserve was tightening monetary policy in an attempt t..
Discuss how the accounting for an employer's defined benefit plan differs from accounting for the defined benefit's pension fund itself.
GDP is the major economic variable used to measure the health of the economy; indeed, as we learn, recessions are defined based on the direction of change in GDP. GDP is a difficult measure to construct, as certain transactions and expenditures are n..
Do you think bonus depreciation is too generous to the business community or is it necessary to continue to stimulate the economy?
Critically reflect on the importance of capital budgeting. Why is this such a heated subject in many boardrooms? How does capital budgeting promote the financial health of an organization? How will you use the financial techniques you have learned th..
Suppose there are two firms in a market that each simultaneously chooses a quantity. Firm 1’s quantity is q1, and firm 2’s quantity is q2. Therefore the market quantity is Q = q1 + q2. The market demand curve is given by P = 160 – 3Q. Also, each firm..
Our desires and satisfactions are often relative not only to what others have but also to what we ourselves have become accustomed to. A small amount of tasteless food can be the source of immense satisfaction to a very hungry person. The marginal co..
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