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Many countries take a major terminology such as ICD and customize it to suit their local needs. Discuss the costs and benefits of this approach from an individual country’s point of view. What could the impact of Localization be on the collection of international statistics?
Consider a market structure where there is a monopoly in input market (upstream monopolist) and also there is a monopoly in product market (downstream monopoly). If each firm maximizes its profit then there is double mark up. Show that if these two f..
Economic agents make decisions in particular models. These models do not need to be related to financial contexts, and economics can be used to describe how agents will act in any other field in which humans act. As an example, how would economic pri..
Take some time to think about the ways in which your learning in this class relates to the real world. Has the knowledge you gained been valuable in helping you understand or evaluate events or policies? Are there any current events in the news that ..
What is true of disposable income?
Assume that the resource and output markets are both competitive, and that it is possible to hire fractional units of the resource. Explain how many units of the resource will a profit-maximizing firm hire.
What will happen to the price and quantity? What will happen to the amount that domestic producers supply? What will happen to revenues of domestic and foreign producers?
Assume instead that the industry can sell any also all of its output at the fixed marketplace price of P = 120. Find out the industries optimal output.
Estimate cost elasticity of demand for education at this university. Is cost elasticity of demand for university tuition elastic or inelastic according to answer in part (i) Why.
When should you be willing to risk the support of your constituents and your contributors and perhaps the wrath of the local editorial board by taking an unpopular position?
Suppose that you have utility in your wealth that is accurately described by this function: U = W^1/2. Further, suppose that your wealth is $1,000,000. What is the maximum amount you would pay to eliminate a risk that, with p = 0.001, your wealth wou..
What is the current U.S. Fiscal Policy – is it expansionary or contractionary? If the current GDP has declined or expanded over the past 2 quarters at least, which of the tools of fiscal policy would you use to try to rein in the economy and how is t..
q1. suppose that the terms of trade of a nation improved from 100 to 110 over a given period of time.a by how much did
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