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1. What is the doctrine of supremacy?
2. Is corporate formation usually governed by state or federal law?
3. Why are courts permitted to be flexible, and how do they do it, if they re required to follow precedent?
4. Does the concept of judicial interpretation of all the law mean that the judges can make whatever law they wish? Explain
An absence of property rights often leads to market failure. When this is the case, how does society usually solve the problem?
One family of social dilemmas arises where a group of people are involved in some task that depends on the efforts of each of them. The strategy choices are work or shirk. In an effort dilemma, one persons shrinking places the burden of increased eff..
Use the following macroeconomic model to answer the questions from 1 through 12: You must show your work of estimation to obtain the credits. Estimate the equilibrium GDP level (income).
A production function establishes the relationship between: Which of the following inputs can be changed in the short run? Which of the following statements is true of the long run?
Suppose there is an early freeze in California that reduces the size of the lemon crop. Elucidate what happens to consumer surplus in the market for lemons.
Which of the following factors did NOT lead to the development of the Feudalist society?
Office building maintenance plans call for the stripping, waxing, and buffing of ceramic floor tiles. This work is contracted out to maintenance firms, and both technology and labor requirements are very basic.
Suppose that the residents of Veggie land spend all of their income on cauliflower, broccoli, and carrots. In 1998 they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for $75, and 500 carrots for $50. In 1999 they buy 75 heads of cauli..
John and Peter both want to save some money. John decides to save $1,000 every year in an account that pays 4% interest per year compounded annually. How much will be in each person’s account at the end of 20 years, counting from when John started sa..
What is this firms total cost function, average cost function, average variable cost function and marginal cost function.
Offering health insurance by employers as a fringe-benefit reduces the problem of adverse selection.Too little insurance means that people bear a lot of risk, too much insurance means that people will take inadequate care. A limited warranty is a sig..
q1. suppose that businesses buy a total of 170 billion of the four resources labor land capital and entrepreneurial
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