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For each of the following events, consider how you might react. What things might you consume more or less of? Would you work more or less? Would you increase or decrease your saving?
a. You have a very close friend who lives in another city, a 3-hour bus ride away. The price of a round-trip ticket rises from $20 to $45.
b. You receive an award that pays you $300 per month for the next 5 years.
c. The price of food doubles.
A farm operator has asked you to help him/her determine the quantity of water that should be applied to a crop under irrigation.
Provide high domestic interest rates, what is the economic outlook for these Asian countries in the next few years.
According to the Solow growth model, a country that increases its rate of capital investment can overcome diminishing marginal returns to capital and achieve sustained high growth over time.
Explicidate key macroeconomic variables which affect your industry.
Compute total revenue at each and every price for this demand curve.
European nation for three consecutive years and comment about possible time changes and eventual differences across countries.
Elucidate what is the difference among real GDP and nominal GDP.
The utility function of a worker is represented by U(C,L) = C X L, so that the marginal utility of leisure is C and the marginal consumption is L.
The subsequent table gives total output or total product as a function of labor units used. Does the table indicate a situation of diminishing returns.
how to calculate the slope then the intercept. With slope and intercept information supply and demand can be written in the familar.
Elucidate proportion of the variation in sales is explained by the independent variables in the equations
Elucidate why and the benefits/drawbacks of this strategy. Describe each tool and how it is used to achieve it desired effect on the US money supply.
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