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Institutional economics and neo-classical economics. Off-hand, which of the two seems like a more sensible approach? What are some of the elements you agree or disagree with?
Suppose you are able bodied and intelligent, but lazy. You would rather sit home and watch tv than work, even though you know you could find an acceptable job if you looked. a. Are you officially unemployed b. Are you a discourage worker
Describe and explain EIA's forecast for the price of gasoline, coal and natural gas. Identify the factors that are affecting the forecast. Discuss specifically the impact of shifts in supply, shifts in demand, and examples of substitutions
What is the average fixed cost for the third unit of output and what is the average variable cost for the 5th unit of output?
The long-run equilibrium for a perfectly competitive industry occurs when the firms are earning economic profits of zero. Why would firm stay in business if it is making zero economic profits
Discuss the meaning of the regression coefficient of the independent variable(s) and how it could be used to estimate the elasticities of each of these variables. Discuss how managers use the elasticities measurements to make managerial decisions.
If the Fed chooses the money supply at the same time as people are setting wages and prices, so that everyone has the same information about the state of the economy, then monetary policy cannot be used systematically to stabilize output.
A firm has a cost function given by the following: Find the firm's production function, y= f(x1, x2).
What different mechanisms are available to the federal government to change aggregate demand Why is a market economy susceptible to coordination failures that can lead to unemployment and inflation
You know from data gathered on the widget market that market demand has recently increased and market supply has recently decreased. As manager of the facility, what decisions should you make regarding production levels and pricing for your widget..
An increase in the demand for video films also increases the salaries of actors and actresses. Is the long-run supply curve for films likely to be horizontal or upward sloping? Explain.
An average worker in Brazil can produce an ounce of soybeans in 20 minutes and an ounce of coffee in 60 minutes, while an average worker in Peru can produce an ounce of soybeans in 50 minutes and a ounce of coffee in 75 minutes. Who has the absolu..
Explain the connections that exist between female labor force participation and divorce. Use your analysis to predict the patterns of divorce and female labor force participation over the next decade.
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