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George caught 300 fish and 10 wild boars. John grew 300 bunches of bananas. The 2 person economy that George & John set up, fish sell for 1 clamshell each, boars sell for 10 clamshell each, and bananas go for 5 clamshells a bunch. George paid John a total of 30 clamshells for helping him to dig bait for fishing, and he also purchased five of John's mature banana trees for 30 clamshells each. What is the GDP of George and John's island in terms of clamshells?
Analyse the short and long run impacts of an expansionary monetary policy, within an AD-AS (aggregate demand/ aggregate supply) model on each of the following economic variables.
The data contained in the following table shows the tradeoffs that occur in an economy that produces only two types of products: pharmaceutical and computer-related technological products. Use the data given in the table to graph the production po..
During the past year, the average price of lots along Lake Michigan in Carol Beach rose from $2,500 to $3,000 per foot of lake front. At the same time, sales of new homes located off the Lake rose from 40 to 70 units. Calculate the cross elastici..
Why does the burden of sales tax fall completely on customer when the value elasticity of demand is perfectly inelastic; the seller when perfectly elastic.
Draw the market Demand and Supply curves (on the same graph) for Ford and what is the market equilibrium price and quantity explain what you will observe in the market if the Ford car price is set at a higher than equilibrium price.
A new taco making equipment that is same in size and expense to hog dog carts has encouraged more street vendors to begin selling tacos.
What percentage of the variation of your dependent variable is explained by the independent? d) (10) Suppose the corruption measure was flipped. That is, the least corruption possible is rated a 10, and the highest corruption level is zero. Argenti..
Suppose your supervisor has been asked many questions about how economy works and why the idea of limited resources is such a major concern in today's economy.
The Federal Reserve buy $100 million worth of government securities in open market. If the required reserve ratio is .6, determine the maximum possible increase in the money supply?
When prices change, the income effect and substituion effect both contribute to the impact on quantities consumed. Explain how both effect a consumers utility maxization.
Mikey cuts hair to pay for his tuition for college. Unfortunately, the cost of a haircut in his town hasn't risen in years, and neither has his hourly wage. To make matters worse, the cover charge at his favourite club, Stages
like supermarkets, full service department stores like macy's are generally in decline. what factors might these types of stores have in common behind their declines how would you determine which were important and which were not
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