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Wealth in the United States has grown steadily. If wealth were the only factor affecting currency demand, what do you expect would have happened to the currency-deposit ratio over time?
Why do you think that economists interpret the high price elasticity of demand for marijuana by regular users to be consistent with the fact that 90 percent of user’s do not become habitual users of the drug?
Decreases aggregate quanity demanded among a stationary aggreate curve. E rases the equilbrium level of output and employment.
Which two of the text's possible explanations for increasing wage and salary inequality seem least consistent with the following fact The distribution of earnings has become more unequal within industries (Both goods and service industries) and wi..
Moreover, she can expect a 5% salary increase each year with this employer. Apply the concept of opportunity cost to calculate the economic cost (as opposed to the accounting cost, which would not factor in opportunity cost) of pursuing the MBA ov..
Suppose a profit maximizing firm's short-run cost is TC = 700 + 60Q. If its demand curve is P = 300 - 15Q, calculate the short run?
Advanced technology digalized theEDG read out and the demand for the old style machine dropped. The drop in demand resulted in a demand resulted in a demand curve of P=3900-.15Q. What waas XYZ's optimal output and priving policy given this change in ..
Your enterprising uncle opens a sandwich shop that employs 7 people. The employees are paid $6 per hour, and a sandwich sell for $3. If your uncle is maximizing his profit, what is the value of the marginal product of the last worker he hired? What i..
Rita has well-behaved preferences over steak and fries. at her current consumption bundle of 3 steaks and 10 fries, her marginal rate of substitution between steak and fries is 1/2 (in absolute value). if you offered to take away one fry and give ..
You are a member of the Metropolitan Taxi Commission, which sets taxi fares for your city. You have been told that long lines of taxis form at the airport during off peak hours. At peak hours, on the other hand, few taxis are available and long li..
Show analytically and show graphically that, in Keynesian consumption function, the average propensity of consumption is always bigger that marginal propensity
Assume you receive a 4% increase in your nominal wage. Over the year, inflation runs about 7 percent. Which of the following statements is TRUE?
Assume the government imposes a fixed tax t per unit quantity on each firm. Explain the impact of this tax on following variables;
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