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The fact that movie theaters charge a higher price to see a movie in the evening as compared to the morning even though there is no change in cost is known as:
a) elastic supply of movies
b) elastic demand for movies during the evening.
c) time discrimination.
d) price discrimination.
How do government policies and/or regulations factor into changes in economic activity on both a domestic and global scale? Give a specific example of a policy or regulation that has helped economic activity.
The questions on this homework deal with an economy called Economica. Calculate the economy-wide currency ratio. Because precision is very important with the multiplier and its components, round your final answer and any intermediate steps to THREE d..
First, draw the AD, SRAS, LRAS diagram for the U.S. economy starting at the long run equilibrium. Label your graph thoroughly. Second, show on your diagram what happens to the U.S. economy when the U.S. government lowers income taxes across the board..
Suppose a wage increase from $11 to $13 an hour increases the number of job applicants from 42 to 56. What is the price elasticity of labor supply?
Suppose a firm's average cost is R30 at 5 units of output and R32 at 6 units of output. The marginal cost of producing the sixth unit is R42. Is it true or false.
Assume that the U.S. dollar and the Japanese yen are the only two currencies in the world. a. A bilateral nominal exchange rate S is the spot (now) exchange value of one currency in terms of the other and S can be written as dollars per 1 yen or yen ..
Assume that a country's per-worker production is y = k1/2, where y is output per worker and k is capital per worker. Assume also that 10 percent of capital depreciates per year (δ = 0.10).
You operate a small but popular and profitable restaurant/bar in a college town. There are several other restaurants and bars nearby. You have conducted a market research study and discovered that the price elasticity of demand for local residents is..
In this discussion, you will compare and contrast monetary and fiscal policies. Consider two recent national crisis points: 9/11 and the banking failures of 2008. Was fiscal or monetary policy more immediately responsive to each crisis? Why? Was fisc..
In "Preventing a Brave New World" (pp. 331-343), Leon Kass concludes that reproductive and therapeutic cloning of human embryos is unethical. What are the exact steps in Kass's argument for this conclusion? What is your assessment of the strengths an..
In year 1 and year 2, there are two products produced in a given economy, cars and beef. Suppose that there are no intermediate goods. In year one, 200 cars are produced and sold at $15,000 each, and in year two, 250 cars are sold at $16,000 each. Ca..
What is meant by culture of compliance. Is the concept applied consistently? In which countries or contexts does this arise? Is it likely to continue to be a factor in regulatory or ethical decisions? What can one do within an organization to foster ..
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