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Mario works part-time at a Pizza Hit and earns an annual wage plus tips of $15,000. He sold 4,000 pizzas during the year at $15.00 each. He was unemployed part of the year, so he received unemployment compensation of $3,000. During the past year, Mario bought a used car for $5,000. Using the expenditure approach, how much has Mario contributed to GDP? Keyboard Shortcuts
What is the difference between diminishing returns and decreasing returns to scale? Why are cost curves U-shaped in the short run?
The 2 firms form a cartel & arrange to split total industry profits equally. Under this cartel arrangement, they will maximize joint profits.
Suppose you have a production technology that can be characterized by a learning curve. Every time you increase production by one unit, your costs decrease by $6. The first unit costs you $64 to produce. If you receive a request for proposal (RFP) on..
Derive IS curve by one of standard methods used in Macroeconomics. Explain in writing to illustrate what market your derivation brings equilibrium and explain how it accomplishes this.
If the central bank (Federal Reserve in case of USA) does not use accommodating monetary policy, a fiscal stimulus is likely to increase interest rates, which in turn will cause planned investment to decrease. What is this sequence of events called?
In the typical signaling model, it is assumed that the costs of acquiring an education are higher for low-ability than for high-ability workers. Suppose that the government steps in and subsidizes low-ability workers for the higher costs they incur i..
Sketch the indifference curves implied by each of the following statements:
Write the economic analysis section of a business proposal. This will include statements about the market structure and the elasticity of demand for the good or service, based on text book principles
List at least four examples of why governments choose to restrict trade with another country. Which of these examples do you feel is the most justifiable?
The wage in the U.S. is $20. Given current employment, the marginal product of the last worker in Mexico is 100, and the marginal product of the last worker in the U.S. is 500.
as you have worked as a real estate agent for 10 years as well as are earning about 100000 every year with your current
Over the last decade, several firms have entered this industry and, as a consequence, Forey is earning a return on investment that roughly equals the interest rate.which market structure best characterizes the industry
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