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At the 2013 Winnebago County Fair a vendor is offering a "fair special" on sandals. If you buy one pair of sandals at the regular price of $50, you get a second pair at a 40% discount, and a third pair at half the regular price. Javier took advantage of the "fair special" to buy three pairs of sandals. What percentage of the $150 regular price did he save?
Suppose the price of c increases to 2, while income remains constant and what happens to the consumption of c and h? Are c and h substitute goods, complementary goods, or neither?
When prices change, the income effect and substituion effect both contribute to the impact on quantities consumed. Explain how both effect a consumers utility maxization.
An economist claims, based on an econometric study, that high profit in a certain industry are explained by that industry’s high Herfindahl-Hirschman Index (HHI). If you felt, based on your knowledge of the industry, that this claim were untrue, what..
Because of the free-rider problem: the market demand for a public good is overstated. the market demand for a public good is nonexistent or understated. government has increasingly yielded to the private sector in producing public goods.
this is about unemployment rates during the depression. if it started at 1.8 then raised to 25.2 what percent would
International data show a positive correlation between political stability and economic growth. Through what mechanism could political stability lead to strong economic growth and through what mechanism could strong economic growth lead to politic..
Presume that a country has no public debt in year 1 however experiences a budget deficit of $30 billion in year 2, a budget deficit of $30 billion in year 3, a budget surplus of $10 billion in year 4, and a budget deficit of $2 billion in year 5. Wha..
Normal 0 false false false EN-US X-NONE X-NONE The gradualism and pragmati..
Draw the probable 'production possibilities curve for an economy which produces 'Capital' goods and 'Consumer' goods. Assuming that the Economy is producing approximately twice the level of customer goods as opened to Capital goods, indentify this pr..
What did you end up doing? Explain using a two time period budget equation and congress must be happy with your findings. You are sitting at your desk starring at your very first bonus.
From 2007 to 2011 the U.S. monetary base increased by 200 percent, but M1 and M2 increased by 40 percent and 25 percent respectively. What caused this explosion in the monetary base? Why didn’t M1 and M2 increase by the same percentage as the monetar..
What is the equilibrium price if buyers know that sellers put for sale a fraction and calculate an equilibrium - What is the equilibrium price and how much would the government effectively buy?
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