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Suppose that wages per week in country A (a poor country) which consists of 4 people are $1, $8, $25 and $40, while in country B (a rich country), which also has 4 people, the wages are $120, $500, $1200 and $3500.
Question: In which country is the standard deviation of log of wages higher (log refers to the natural logarithm)?
Explain how a price increase could be better for society than not raising the price of a product or service. Why does central planning not work efficiently?
If the government imposes a quantity tax on the consumption of a good, it means that the consumer has to pay for each unit of the good its price plus the tax. Denote by t the amount of dollars a consumer has to pay for every unity she consumes in exc..
q.as per milton friedman business has only 1social responsibility to create profits as long as it stays within the
The following report appeared in the New York Times on August 7, 1989: “A soft landing would not force the Federal Reserve to push interest rates sharply lower to stimulate growth. Interpret this paragraph using the short run model of exchange rates ..
A purely competitive wheat farmer can sell any wheat he grows for $20 per bushel. His five acres of land show diminishing returns because some are better suited for wheat production than others. The first acre can produce 1,000 bushels of wheat, the ..
q. find the equilibrium price and quantity after the shift of the demand curve.if instead two new stores that sell
What are the predominant beliefs and values in the United States that have driven the development of the health care system? How have these beliefs and values played a part in the U.S. opposition to health care reform?
Provide examples of two industries with different time frames for the short run. Clarify why this is the case.
Halcrow,Inc., expects to replace a downtime tracking system currently installed on CNC machines. The challenger system has first cost of $70,000, an estimated annual operating cost of $20,000, a maximum useful life of 5 years, and a $10,000 salvage v..
Are there specific differences between the short-run and medium-run implications of the increase in interest rate targets? Use the appropriate graphs (IS-LM and AS-AD) to illustrate your points. If relevant, include the liquidity trap in your analysi..
Fiscal policy and monetary policy are the tools the government can use to try to influence the financial sector. For example, the government can implement policies, such as tax cuts, to attempt to stimulate a sluggish economy.
Write the print f C Code which will display the output with three spaces preceding it. Illustrate what is the marginal cost of the last bucking bronco produced.
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