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Assume that a painter produces 20 paintings this year and 20 paintings next year. What is the annual change in nominal GPD if the price of paintings rises from $1,000 this year to $1,500 next year? Can you conclude that the economy grew from this year to next year based on your answer? Why?
If the foreign country enters the market first, determine the equilibrium price and quantity. Will both countries produce. Show both average cost curves and the equilibrium.
Experience does not necessarily have to be work experience. Discuss market equilibrating process in relation to your experience. One of early economic "laws" was called Say's Law which stated that supply creates its own demand.
Based on standard monetary theory, if the Fed purchases Treasury Bills from banks:
What interpretation would you give the exponent for R? Why do you suppose R was included in the equation as a variable?
What is Soroush’s income elasticity of demand for Good 1? C. What is Soroush’s income elasticity of demand for Good 2?
Walmart.com announced that it wants to be "the most visited, most valued online retail site." Suppose you were hired by an outside consulting firm to evaluate Walmart.com's potential to achieve this goal.
Bob's utility function is UB = (hB - 1)2sB where hB and sB are his consumption of hamburgers and salads respectively. Let p be the price of hamburgers measured in salads. Alice is endowed with one salad and two hamburgers. Bob is endowed with six sal..
Include an example in which the government has used either economic or social regulatory activities. Illustrate do you agree with this regulatory activity.
The cost measure sellers use to determine whether or not to produce the optimal (i.e. profit maximizing) level of output is:
How does monetary and fiscal policy affect aggregate demand?
Suppose a wage increase from $25 to $27 an hour increases the number of job applicants from 52 to 66. Illustrate what is the price elasticity of labor supply.
Assuming that price elasticity of demand for this of kind candy is - 1.5, determine if the price CCS charges for its special candy is a profit-maximizing price. If it is not, what price should it charge?
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