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You are about to open a business and must obtain a license from the city for $25,000. The license is transferable, but only $4,000 is refundable in the event the firm does not use the license.
A) What are the free trade equilibrium conditions (equilibrium price and equilibrium quantity)? B) If there were to be an import quota of 200 units, then how would the equilibrium price and quantity change? C) How would you say that the quota has aff..
Groups need to choose a topic from the list of topics provided by the lecturer and write an essay on the chosen topic. (This list is placed under additional readings on your BB)
What are several important computer hardware developments that you expect to happen in the next ten years. How will these affect the business use of computers? please provide references and explanation.
1. A fundamental justification of competition is that it promotes efficiency and innovation on the part of business firms(True/False) 2. Consumption is the ultimate end of economic activity(True/False)
What is the process of wrongly including the value of intermediate goods in the GDP; counting the same good or service more than once?
Suppose you borrow $100 of principal that must be repaid at the end of two years, along with interest of 5 percent a year. If the annual in flation rate turns out to be 10 percent, (a) What is the real rate of interest on the loan?
The U.S. trade deficit is currently running over $50 billion per month. Explain why this is bad for the country in the long run. Compare the view of the older GATT treaty, and more recently, the World Trade Organization, of how trade deficits sho..
In one day Cindy can either build 1 computer or 2 stereos, and in one day Dana can build either 2 computers or 3 stereos. Of course, Cindy or Dana could split their time between the two activities and produce some combination of the two products.
How will each of the following changes in demand or supply affect equilibrium price and equilibrium quantity in a competitive market, that is do price & quantity increase, fall, remain unchanged,
What is the primary and general objective of central banks?
Explain why economists usually oppose controls on prices. Explain how buyers' willingness to pay, consumer surplus, and the demand curve are related.
Poverty among the elderly fell dramatically between 1959 and 1974 and has continued to decline. However, poverty among that portion of the US population that is less than 18 years old is no lower today than in the 1970s.
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