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An ironic twist in Rawls’ Theory of Justice is that although he claims to base his theory of rights on the natural law theory of John Locke and Kant’s deontology, it turns out in the end to be a version of _______________
(a) moral relativism, (b) psychological egoism, (c) utilitarianism, (d) teleological virtue ethics.
Illustrate what would be the size of the resulting deadweight loss relative to the competitive outcome.
The long-term trend of a time series in the decomposition model is estimated using
Discuss a scenario where either the supply or price of a good or service is intentionally limited by the government.
Three policies used to restrict trade are: Tariffs, Quotas, and regulatory trade restrictions. Discuss pros and cons of each. If the government has to decide on one which one it will?
A country purchases $3 billion of foreign-produced goods as services and sells $2 billion dollars of domestically produced goods and services of foreign countries. it has?
The FOMC wants to expand the money supply by $120 million and decides to buy bonds on the open market. Suppose the reserve requirement is 40% and banks do not hold any excess reserves. Which of the following is an alternative monetary policy that the..
What do economists mean when they say that "price floors and ceilings stifle the rationing function of prices and distort resource allocation" Use the ideas of consumer surplus and producer surplus
You are going to display what happens in the long run in perfectly competitive markets when firms are operating at a loss. Demonstrate the shift that will occur in the market in the long run if all firms in this market are operating at a loss. Identi..
assume an urban clusters income i is given by the function i4n-0.05n2 where n denotes the clusters population in
A firm sells its product in a perfectly competitive market where other firms charge a price of $80 per unit. The firm’s total costs are C(Q) = 50 + 12Q + 2Q2. How much output should the firm produce in the short run? What price should the firm charge..
Elucidate how much the last input added to the total amount of revenue. Elucidate how much the last input added to the total amount of production.
If the company will sell the number of units obtained in part d, and wants to maintain the same level of profit as last year, what will its new price have to be?
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