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Select a country in which the government has implemented industrial policies. Have the industrial policies contributed significantly to the country’s economic growth? Have the policies lead to problems in the country’s economy? Need citation
Suppose that your utility function is U = ln(3I), where I is the amount of income you make in a given year. Suppose that you typically make $30,000 per year, but there is a 5 percent chance that, in the next year, you will get sick and lose $20,000 i..
What is the new equilibrium price and output in the short run for both the industry and each firm.
Discuss your understanding of what policy analysis contains and what policy makers can learn from policy analysis. Provide at least two examples to support your argument
What is the short run average cost of producing 20,000 units?
Explain how much must government spending increase to eliminate the GDP gap.
Assume demand for a medical service is given by the equation P = 1000-2Q. Assume the price without insurance is $100, but insurance reduces the consumer’s out-of-pocket price to $50. How many extra services will be consumed as a result of the out-of-..
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitutes one product for another? Use examples to illustrate.
Find outing relate to economist's traditional focus on Illustrate what people do, rather than Illustrate what they say they will do.
Which economic decision makers conclude the provider of labor. Illustrate what is their goal also illustrate what decision criteria do they utilize in trying to reach which goal.
A drought in Alberta and Saskatchewan has made grain, and therefore cattle feed, quite expensive. Many ranchers cannot afford to feed their cattle, and have sold much of their herd for slaughter. As it happens, the slaughter of beef cattle has coinci..
Suppose your utility over donuts (D) and sodas (S) is given by U(D, S) = D0.5S0.5 + 10. a. Calculate the marginal rate of substitution (MRS) between donuts and sodas. b. Suppose you have income of Y dollars to spend on donuts and sodas each week. Den..
Two identical countries, Nation A and Nation B, can each be described by a Keynesian-cross model. MPC is .9 in each nation. How much is government purchases multiplier for each nation.
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