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College students sometimes work as summer interns for private firms or for the government. Many of these positions pay very little or nothing. What is the opportunity cost of taking such a job? Explain why students might be willing to take such jobs. If you were to compare the earnings later in life of workers who had worked as interns with those who had taken summer jobs that paid more, what would you expect to find? Why?
When Coca Cola introduced a new, low calorie version of Coca Cola called C2, despite a major marketing effort, sales of C2 were weak and by the fall many doubted that the product would last. Coke's experience with C2 illustrates the economic conce..
An order written by the exporter instructing the importer, or their agent, to pay a specified amount of money at a specified time is a: Note Payable, Draft, Promissory Note, Check.
Almost all of the fossil fuels that we are now currently using were formed during the Carboniferous period. (b) There seems to be a strong correlation between increases in the availability of food energy per person and increases in human populati..
Calculate the equilibrium price and quantity that will prevail in a free market and calculate the price elasticity of demand and the price elasticity of supply at the equilibrium.
Is the federal funds rate currently too high or too low, Suppose that a year has gone by, output is now just 1 percent above potential, and the inflation rate was 1.5 percent over the year. What federal funds rate should the Fed now set (assuming tha..
Using two graphs, show consumer surplus before and after government intervention.
Suppose you are the CEO of ClipIt, a paper clip producer. Your firm enjoys a patented technology that allows it to make paper clips faster and at a lower cost than your only rival, FastenIt.
What is the bond coupon rate on a $25,000 mortgage bond that has semiannual interest payments of $ 1250 and a 20-year maturity date?
What indicates that we have positive value of perfect information and what is the expected value of perfect information on reserves?
Suppose Virginia withdrew $10,000 from her bank. If the reserve ratio is 2 percent theen this transaction willl lead to decreasing ____ in checking account balance.
Differentiate the expenditure versus income approach to GDP and discuss why are the results the same? What are some of the drawbacks of using GDP while doing international comparisons among countries?
What is the percent change in consumption since you were born? What is the percent change in real disposable income since you were born? Would it be correct to connect points A and B with a ruler and call it a consumption function? Why or Why no..
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