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1) What were the strengths and weaknesses of the system of central planning in the Soviet Union?
2) Was the decline of socialism in Eastern Europe the result of purely economic facture? What role was played y politics and culture?
3) Why do you think the ideas of Marxism were mostly not realized in the actual experiences of socialist countries?
4) Why do you think capitalism has not been a great success in the formerly communist countries of Eastern Europe?
Illustrate what is the supply of dollars in the market for foreign-currency exchange. Write down your answer since you will need it to answer the next question.
Compute the aggregate demand curve and aggregate supply curve that would maintain the state of economy in less than full-employment level of real GDP.
q1. suppose that the terms of trade of a nation improved from 100 to 110 over a given period of time.a by how much did
Canada increased from 7,500 kg per month to 8,000 kg per month. Use calculated elasticity to comment on substitutability or complementarity of coffee and tea
The US government could not pass its annual budget. As a result, the US government has partially shut-down: roughly about 800000 federal employees of non-essential services are out of work
Agricultural price supports increase consumer surplus. Agricultural price supports decrease producer surplus. Agricultural price supports benefit taxpayers by reducing the price of food.
A monopolist has two sets of consumers. The demand for one set can be described by Q1 = 5 ? p. For the other set, the demand is Q2 = 10 ? p. The monopolist faces constant marginal cost of 2. Derive the monopolist’s total demand if the two markets are..
Draw a supply- demand diagram of the federal funds market and show the effects of a Federal Reserve Purchase of $85 billion in US Treasury Notes during a Quantitative Easing Campaign after the Fed has already lowered its Fed funds target to 0 - .25%.
conomist Robert Fogel focused on which of the following factors as one determinant of long-run economic growth.
bananas can be produced. Between these points. Illustrate what is the opportunity cost of producing a pound of apples.
Suppose disposable income is expected to increase by 5 percent next year. Assuming all other factors remain constant, forecast the percentage change in the quantity of haddock demanded next year.
determined the point price elasticity of demand at P=$3. What is the new point price elasticity if price is raised to P=$4.50? Comment on the change in elasticity
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