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The "Cross of Gold" speech was:
against the gold standard and was given in 1896.
in favor of the gold standard and was given in 2008.
in favor of the gold standard and was given in 1896.
against the gold standard and was given in 2008.
A purely competitive firm finds that the market price for its product is $30.00. It has a fixed cost of $100.00 and a variable cost of $17.50 per unit for the first 50 units and then $37.50 per unit for all successive units. What is the average varia..
Describe how the system converges to its new equilibrium. What happens to the equilibrium wage in the long run? What happens to the equilibrium population size in the long run?
Discuss how and why the effectiveness of fiscal policy depends upon the slope of the LM curve. Hint: Discuss how the behavioral sensitivities (c1, and c2) determines the LM slope, and how changing c1, and c2 influences the fiscal policy effectiveness..
The "law of one price" applies to all goods, except those that: Which of the following would cause the U.S. demand curve for Japanese yen to shift to the right? Which of the following might cause the U.S. dollar to depreciate against the Japanese yen..
Consider a world with two countries, A and B, in which consumers are obsessed with the consumption of YokiPooki, which is considered to be the latest and greatest in VR entertainment. The two counties are identical: each has an aggregate demand for Y..
When transaction costs are low enough, efficient resource allocation will follow regardless of the particular assignment of property rights. When transaction costs are high enough, efficient resource allocation requires assigning property rights to t..
The NCAA has often been called an “incidental cartel. ”What is an “incidental cartel?”How has the NCAA exercised its cartel power? Give two distinct examples.
Illustrate what is point cost elasticity of demand with respect to company f for values of independent variable.
Mike finds a Coke machine in an abandoned part of town and is extremely thirsty. The Coke machine requires exact change - two quarters and a dime. No other combination of coins will make anything come out of the machine. Draw a graph that illustrates..
Bob's preferences over consumption is defined by the following utility function: u(c1,c2) = c1^2/3c2^1/3. Note, c1 is Bob's consumption in period 1 and c2 is Bob's consumption in period 2. Calculate Bob's present value and future values of income for..
In the long run, some firms will respond by, The new equilibrium price and quanity suggest that the shape of the long-run supply curve in this industry is (horizontal, vertical, upward sloping, downward sloping)
In recent decades, trade has been growing faster than income for many countries. What combination of trade effects is sufficient for this to come about? Is this behavior consistent with the Rybczynski theorem? Under what circumstances?
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