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Under both President Bill Clinton and President George W. Bush, members of the opposition party in the Senate often blocked the president's nominations to district and circuit courts. Under what circumstances are such blocking actions a legitimate exercise of the Senate's power? Under what circumstances can they rightly be described as inappropriate political maneuvers? 75 to 150 words
What are the credit risks faced by retail banking
A farmer has 120 acres on which to plan wheat or corn. Each acre of wheat requires $20 capital and 2 hours of labor. Each acre of corn requires $35 capital and 6 hours of labor. Labor costs are $8 per hour. The farmer has $2000 available for capital ..
The production function at Ginko's Copy Shop is q = 1000 x min(L, 3K), where q is the number of copies per hour, L is the number of workers, and K is the number of copy machines. As an example, if L = 4 and K = 1, then the minimum of L and 3K, min(L,..
Which policy will discourage economic growth?
Discuss the pros and cons of monopoly structures. Cite the forces that influence the supply of labor. Explain why the labor demand curve slopes down word
When the price of bananas is 50 cents a pound, the total demand is 100 pounds. If the price elasticity of demand for bananas is −2, what quantity would be demanded if the price rose to 55 cents a pound?
Now that we have learned that the Short-Run Phillips Curve (SRPC) shows the trade off between inflation and unemployment at the given natural unemployment rate and expected inflation rate, discuss which is worse, too much inflation or too much unempl..
A manufacturer has paid an engineering firm $200,000 to design a new plant, and it will cost another $2 million to build the plant. In the meantime, however, the manufacturer has learned of a foreign company that offers to build an equivalent plant f..
Discuss the effects of a tightening monetary policy in the short-run and the long-run? What are the key assumptions in both scenarios? What are the appropriate models to distinguish the short run and long-run effects of a tightened monetary policy? W..
Bleacher tickets for the game were sold out and many fans would have attended if tickets were available? What is the main rationing mechanism to allocate tickets for the game?
George and John, stranded on an island, use clamshells for money. Last year George caught 300 fish and 5 wild boars. John grew 100 bunches of bananas. In the two-person economy that George and John set up, fish sell for 3 clamshells each, boars sell ..
What is the equilibrium output and price level? If aggregate demand shifts right, what is equilibrium output? If aggregate demand shifts left, what is equilibrium output?
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