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Why is it that the price elasticity of demand in the short run is <1 while in the short run it i is >1 ? Explain why the income elasticity of demand for dental care is >1 while the income elasticity of demand for flour is <1 ?
Suppose that the production of $1 million worth of steel in Canada requires $100,000 worth of taconite. Canada’s nominal tariff rates for importing these goods are 20 percent for steel and 10 percent for taconite. Calculate the effective rate of prot..
What are the cross-cultural communication issues that could result from differences in the social, political, and legal structures and hierarchies between the foreign country and the United States?
In which of the following cases must price always fall?
In the poem Facing It by Yusef komunyakaa. Characterize the speaker of the voice you hear in the poem, what can you tell about the speakers experiences and feelings. How does the title fit the poem and the speaker? How does the last line fit?
An economist has predicted that for the next 5 years, the U. S. will have an 8% annual inflation rate, followed by 5 years at a 6% inflation rate. This is equivalent to what average price change per year for the entire 10-year period?
A California grower has a 50-acre farm on which to plant strawberries also tomatoes. The farmer needs to know the number of acres of strawberries also tomatoes to plant to maximize profit.
Identify some of the federal government programs that the state of Texas administers in the area of health and human services. Describe any particular issues connected with these programs. Do you believe these programs should be administered by the s..
In 2005, Clear Chanel (an owner of multiple popular radio stations) spun off concert promoter Live Nation into an independent company. How would this affect prices for concert tickets or rates for radio programming?
Suppose people freely choose to spend 40 percent of their income on health care, but the government decides to tax 40 percent of a person's income to provide the same level of coverage as before. What can be said about deadweight loss in each case?
If a $25 per share stock has a P/E ratio of 20 and pays out 40 percent of its profits in dividends, How large is its dividend? What is the implied rate of return?
Elucidate what would be the immediate and long run effects on c, k, and y. Explain by drawing the path of these variables. Consider that you impose the new saving rate.
Would the DWL of a tax be larger if the tax (assuming the same size of tax per unit of product) were levied on groceries or meals at fancy restaurants? ? In order to minimize the DWL of a tax, should the government levy tax on groceries or meals at f..
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