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What is an externality? Provide at least three examples. How does one of the examples you provided affect the market outcome? What is the role of government in addressing the implications of an externality you provided as an example? Is it possible that a government's solution to a market failure would worsen the failure? Describe your answer.
now that you have learned about various industry structures think about a pure monopoly monopolistic competition and
Assume that you are leaving a message in a time capsule to be opened 100 years from now. Formulate a message you leave regarding the economic times of your lifetime and what could have been done to make our economy better.
do you believe global currency would redistribute wealth among all countries? if global currency was backed by a fixed
What do the behavior genetics research on family influences and the evolutionary explanation of sex differences imply about the amount of influence parental behavior has on how masculine or feminine their sons and daughters become?
a examine your y data excluding the hold out period to determine if it needs to be differenced to make it stationary.
Michelle (a calendar year individual) begins a new business as a sole proprietorship. She would like to use an October 31 fiscal year end for her business because the calendar year ends during her busy season
1. suppose a consumers preferences are represented by the utility function u minx4y. the price of y is py 2 and the
The firms and workers in Alpha form expectations adaptively. The firms and workers in Omega form expectations rationally. Their otherwise identical economies are initially in equilibrium at the natural level of output with 10 percent inflation.
.if individuals are free to produce whatever goods they want, then when excess profit is being made, more people will enter into the production of that good and consumers will benefit as the price is pushed down.
Why does a business need to understand elasticity of demand and calculate the elasticity of demand between prices $6 to $8
The French government has recently increased the retirement age, a decision which is opposed through a large fraction of the French public, especially in students
When the Fed buys government securities in the open market, the money supply ________ because ________. In the quantity theory of money, the assumption that aggregate output is fixed is based on the view that ________.M1 differs from M2 because _____..
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