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According to economists, what is (are) the true cost(s) of a budget deficit? Does the "opening up" of an economy change the type of costs a deficit produces? Use an investment/savings diagram in your answer.
Suppose a linear demand function is estimated for good x as, Qd = 100 – 4*Px + 6*Py + M. where Px = $4, Py = $2, and M =10. M is the average income of consumers, measured in thousands of dollars. What is the price elasticity of good x? (choose the ne..
Who were the greatest gainers from the Industrial Revolution? How many revolutions have been identified by historians for the period of the Industrial Revolution in England? If the intergenerational correlation of status in England in 1800 was 0.8, t..
Suppose an economy that is initially at full employment faces a substantial fall in exports.
explain why does not just one state produce all of the orange juice for the U.S. market? Can you answer this question without the simulation.
Using the specific-factors model, elucidate why you might expect to see certain capital owners and labor groups arguing against expanding trade in a capital-abundant country.
A firm currently uses 40,000 workers to produce 180,000 units of output per day. The daily wage per worker is $100, and the price of the firm's output is $28. The cost of other variable inputs is $500,000 per day. Calculate the firm’s profit or loss...
In a perfectly competitive market, demand for hairbrushes goes down. How does the market and a typical firm respond in the short and long run? Explain and draw the market and then the typical firm (two drawings, one for market, one for firm)
New manufacturing technologies are often viewed as labor saving in nature. Using a production possibilities frontier with manufactured capital goods on one axis and labor-intensive goods on the other axis.
Which is a characteristic of the German health care system?
Give two distinct reasons why studies might show that physicians firm might use too few nurses and other aides relative to profit maximizing amount of those two types of input.
Illustrate that this is an indirect or a direct rate. If the forward rate is an accurate predictor of replacement rates.
Which of the following is an obstacle to economic growth? According to the text, as compared to rich countries, most of the poor countries do not fare well because:
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