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The most obvious benefit of specialization and trade is that they allow us to a. work more hours per week than we otherwise would be able to work. b. consume more goods than we otherwise would be able to consume. c. spend more money on goods that are beneficial to society and less money on goods that are harmful to society. d. consumer more goods by forcing people in other countries to consume fewer goods
Discuss the pros and cons of such a policy from a short-run versus a long-run perspective. Also, include a discussion of the Phillips curve in your analysis.
Rent-seeking behavior results in a)increased economic activity by promoting efficiency b)lower economic acitivity by diverting resources to less-productive uses c)a more equitable distributionof income and wealth
Determine which of the following is most likely to indicate statistically significant regression coefficient? Assume the price elasticity of the supply of cheese is 0.80. If the price of cheese rises by .20 percent,
Suppose the firms compete by simultaneously choosing price and fine the best response function of each firm as a function of the other firm's price. Compute the equilibrium price and quantity for each firm.
The effect of rising energy prices for the economic wellbeing of households and the likely effect of increases in the cost of traditional sources of energy for the energy consumption patterns of Australian households
With a high and growing US trade deficit, many hope that a depreciation of the dollar would help close the deficit. Explain the logic behind this prediction.
What challenges would face the Greek government if they wanted to undertake fiscal policy to address the problems described in b?
What is the machine's payback period? Compute net present value of machine if the cost of capital is 12%. Find out the expected internal rate of return for this machine?
why Banks are exposed to interest rate risk primarily. what does the Federal funds market involves.
Suppose the price of c increases to 2, while income remains constant and what happens to the consumption of c and h? Are c and h substitute goods, complementary goods, or neither?
analyze the impact on the consumer's demand of the following three policies under the assumption that the market price does not change.
Amityville has a competitive chocolate industry with supply curve Ps =440+Q. While market demand for chocolate is Pd=1200-Q, there are external profits that the citizens of Amityville derive from having
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