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Trace the constitutional revision effort from 1971-1975. Pay particular attention to why the process failed. In your judgment, does Texas need a new constitution? Why or why not?
Where U is their monthly utility, x is the quantity of essential goods that they consume per month and y is the quantity of luxury goods that they consume per month. Find the quantities of essential and luxury goods that the Smith family should consu..
Explain how the Lourve Accord represented a type of exchange-rate system. What is the principal responsibility of a currency board? What are the three main restrictions on a currency board that make it different from a typical bank?
Indicate whether the following shocks are real shocks or aggregate demand shocks.
Graph these functions and find the non-zero equilibrium. Prove that the equilibrium at (0,0) is not stable. Suppose that school inputs improve by one unit, from 10 to 11. What is the immediate impact on education (before health can adjust)? What is t..
In the market for copper, we can obtain copper from two sources. The marginal cost of mining ore is MC1 = 10 + 7q1 and the marginal cost of recycling copperisMC2 =40+2q2. If the total market demand for copper is 50, what amount will come from mining ..
What are the advantages and disadvantages of the installation methods our book describes?
Suppose you have identified the existence of a cluster and are looking to classify it. Any cluster will contain features of one or more of the "ideal" types described in the text. What key, observable characteristics would you use to classify the clu..
A monopolistically competitive firm faces the following demand curve for its product: The firm has total fixed costs of $20 and a constant marginal cost of $5 per unit.
Smith suggests that division of labor leads to increased production through three different avenues. Explain. “It is the great multiplication of the production of all the different arts in consequence of the division of labour, which occasions in a w..
If you are running a bake sale and increase the price of your cupcakes from 1$ to 2$ what will happen
Large airlines have enormous fixed costs. Their business after the attack of September 11, 2001, was dismal. US Air and United declared bankruptcy. American obtained large concessions from employees and avoided bankruptcy (until 2011). Your written c..
Is democratic government and equal rights are necessarily related, in the way Lincoln's opening quote implies."As I would not be a slave, so I would not be a master. This expresses my idea of democracy. Whatever differs from this, to the extent of th..
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