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What are the pros and cons of the government not being involved in the labor market (laissez-fair)? What would be the pros and cons of an economy of personal income tax being fully substituted with a sales tax? Please explain why.
The water is identical in the two sizes and John gets no utility from the containers themselves, only from the water.
An economist estimated that the cost function of a single-product firm is: C(Q) = 60 + 30Q + 25Q2 + 5Q3. Based on this information, determine the following: The fixed cost of producing 10 units of output. $ The variable cost of producing 10 units of ..
The following data concern a new product to be launched by ABC Inc. Estimate the selling price per unit.
Which of the following is true concerning the consumption habits of ALL levels of government? Which of the following is an example of governmental MANDATORY SPENDING? During which year did the first federal budget surplus occur within the last three ..
An equipment costs $100,000, has a useful life of 5 years and has zero salvage value at the end of its useful life. Determine the depreciation allowance for the first two years and book value at the end of year 1 and year 2 for the following methods...
The long-run and short-run aggregate supply curves reflect fundamental differences between long-run and short-run macroeconomic analysis.
This deviation from the classical dichotomy and the Fisher effect is called the Mundell-Tobin effect. Explain how might you decide whether the Mundell-Tobin effect is important in practice.
Suppose that between 2003 and 2007, one group of individuals (Group 1) received job training while another otherwise similar group (Group 2) did not. Suppose that the average earnings of the first group went from $40,000 per year to $55,000 per year,..
Suppose regression of y on x with a sample of size 37 yields 2 R = 0.4. What is the correlation coefficient between y and x?
Suppose that a producer raises the price of a good from $8 to $15, and the quantity sold drops from 250 to 40 units. Is the demand for the good is elastic or inelastic?
Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 28%, 26%, 23%, 10%, 7%, 4%, and 2%. What is the four-firm concentration ratio of the hamburger industr..
List the four dimensions of opportunity management. How would you describe your time management skills? List the four time-saving techniques used by time-conscious people and describe how you can use each to increase your time management.
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