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What is a budget constraint? How does a budget constraint explainconsumer choices when used in conjunction with indifference curves?Explain what happens if a household looses half of their income,using a budget constraint and indifference curves in yourdiscussion.
Utilizing a supply and demand diagram, explain how speculative attacks occur in the foreign exchange market.
Illustrate what economic policy should be adopted by regions with persistent economic problems.
Presently most British imports come from other European countries. How does this fit in with the changing types of goods that make up world trade.
That means that businesses, consumers and whole societies face tradeoffs whenever they make a decision.
Explain what factors would increase the supply (shift the supply line to the right) of a manufactured product like white bread and what factors would cause a decrease in demand (shift of the demand curve to the left) for that same product.
Suppose OPEC breaks apart and oil prices fall substantially. Initially, which curve shifts in the aggregate supply/aggregate demand modell In what direction does it shift? What happens to the price level and real ouput (GDP).
Describe when economists with different political views do cost/benefit comparisons, they often reach different conclusions. If their analysis is based on objective costs and valid techniques, why wouldn't they reach similar conclusions, even if t..
If I told you that GDP was forecast to rise by a bit more than 3% over the next year, what would that mean to you? What should you be asking about the forecast?
What would like you to do some research and find out what nation would be the most ideal markets for your new product.
A: what are four common phases of business cycle B: explain the causes of recent recession and when it started and when it technically ended. Finally why the recent recession was called the worst recession after the great depression.
Suppose that a perfectly competitive company is currenly producing 5,000 units of output and is earning $10,000 in total revenue.
(a) reduce shirking by employees and (b) reduce employee turnover What is the implication of the efficiency wage theory for unemployment In what way are piece rates, commissions, royalties, profit sharing, and stock options substitutes for efficie..
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