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Which of the following is the best definition of money?
1) anything generally accepted as a payment for goods or repayment of debt 2) anything that is a liability of the federal government 3) anything that is a liability of a commercial bank 4) coins and currency in the hands of the public
It takes a phlebotomist 10 minutes to complete a blood draw. The supplies for each draw cost $5 and the phlebotomist earn$25 per hour. the phlebotomy lab is designed to accommodate 24000 draws per year. its rent is 100,000 per year. what are the aver..
Is conspicuous consumption for real or just a rational response to higher income? How does this effect the consumption curve and aggregate expenditures model? What is the relationship with GDP?
Compute accounting profit. What are the opportunity costs for the manager of being in this business relative to returning to his old job. Illustrate what is the economic profit of the business.
Why do monopolistic competitors have a tendency to advertise much more than perfectly competitive firms?
Adam Smith discussed how nations could benefit from trade, known as absolute advantage. What was David Ricardo’s improvement on Smith’s theory? How does it differ?
Suppose you will receive $100 in six months and have access to an account that earns 1/2% per month. If you deposited the money into the account how much would you have 18 months from now?
study of individual behaviour - individual industry like education, meat industry, tourism and agriculture. Choose any ONE industry from this list and discuss the reforms been done in that industry.
Your state has a retail sales tax of 10% but it exempts food, prescription drugs, and all services including housing services, repair services, and use of electricity and other public utility services.
Using economic analysis and the guiding principles of sustainability, between the farmer subsidy solution and the principles of sustainability solution, justify which solution is best? Why?
Calculate the point elasticity of the firm's total sales revenue with respect to the amount of labor used when q = 2.
Utility producing firms often practice second degree price discrimination. How might this help consumer welfare?
Illustrate what effect would customer expectations of substantial price increases in music players have upon the demand for portable music players in a completive marketplace
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