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Explain using the AS-AD graphs how an increase in government expenditure will change the equilibrium in the economy. Do it in two stages. First show how the graph changes with the initial increase in expenditure and then what happens after the multiplier process works through the economy.
Why do you thing they each would work. Illustrate what would the benefits of each action be besides emissions reduction.
Keeping in view the law of supply how the following factors will shift the supply curve? each answer must be supported by diagram?
Switching from one anesthesia drug to another reduces costs by $100 per patient. What additional information do you need to do a cost-minimization analysis?
Suppose the marginal product of capital is 16 and the marginal product of labor is 3. If the price of capital is $4 and the wage rate is $3, then in order to minimize costs the firm should use:
Economists argue about the potential benefits and cost of diversification. For example while diversification can certainly help company to promote new products at the same time through the merger of two firms it can be more expansive to develop commu..
Use a supply-demand graph to demonstrate how the quantity and price of medical services are expected to be affected if we went from a world without insurance to a world where the government covered 90% of all medical costs.
Piece-rate pay coexists in our economy with hourly wage pay. Why is that? What aspects of a business (or job) would lead you to expect that it would be characterized by one or the other? Studies suggest that, comparing workers who do similar jobs, th..
Examine the value of the US dollar verses the euro during the past two years. Why do you think the value of the US dollar has fluctuated? Why did the "gold standard" collapse. What do you think might happen if the IMF loosens its tight monetary polic..
First assume that each lawyer will pay his own bill. Describe their decision making process as a normal form game (describe the payoff matrix). Identify the Nash equilibrium or equilibria. Do you think that the Nash equilibrium or equilibria is a rea..
Product Differentiation via Location: A salesman’s territory is a single, mile-long street. Consumers of his product are equally distributed along the street. He has decided to set up a store to sell his product. In addition to this salesman, there i..
Consider the following price indexes: 90 in 2008, 100 in 2009, 110 in 2010, 121 in 2011, and 150 in 2012. (show all work) What is the base year? How do you know this? What is the inflation rate between 2009 to 2010?
In reference to supply and demand as well as demand and supply elasticity. What did you learn? Why is it important? How do the Economics concepts we just covered impact the economy, you and your family, your friends and your employer?
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