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Answer below Questions
Problem 1. (a.) Suppose real GDP was $13.1 trillion in 2013 and $13.3 in 2014, what is the growth rate?
(b.) How many years would it take for GDP (gross domestic product) to double (using your answer from part (a)?
Problem 2. What are the sources of human capital? Discuss some specific examples.
Problem 3. What is the law of diminishing returns? Give an example of what the law of diminishing returns implies.
Problem 4. What happens when the government raises taxes and uses revenue to engage in spending?
If Perfection Performed and Quality Products cooperate with one another, which choice of strategy for each firm will result in the greatest joint profits? What is the dominant strategy for Quality Products
Write 5 pages research about 3 companies used Dunning Eclectic Theory stating 1 case study for each term Ownership Advantage, Location Services and Internalization Advantage.
1. discuss the small-country case of tariffs using partial equilibrium analysis.2. suppose the free trade market price
discuss how you would convince businesses to increase exports and how you would put an ad campaign together directed at
An electric switch manufacturing company has to choose one of the three different assembly methods. Method A will have a first cost of $40,000 an annual operating cost of $9000, and a service life of 2 years.
Given the supply condition in (d), suppose the shift in policy causes health care demand to shift down by 200 at every price. What is the new equilibrium price and quantity? What is the marginal benefit and cost if 50% insurance coverage were in p..
Relationship between the marginal product of an input and its real price, to calculate the amount of labor and the amount of capital hired in this economy.
Explain what happens in a fixed exchange rate economy when the world interest rate rises
According to Emerson: "Want is a growing giant whom the coat of Have was never large enough to cover." According to economists, "Want" exceeds "Have" because: The regulatory mechanism of the market system is:
What two kinds of changes in the capital stock can improve labor productivity How can each type be illustrated with a per-worker production function What determines the slope of the per-worker production function
Suppose the production function for pasta is Q = 4kl. What is the long-run optimal input combination when Q = 16 , r = 4 , and w = 36 ? What is the long-run total cost function when r = 4 and w = 36?
Describe how the ice cream industry fits the oligopoly model and, how does the government influences oligopolistic behavior and do oligopolists always compete on the basis of price?
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