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What do economists mean when they say that the price system (free markets) promotes economic efficiency When are free market arrangements "inefficient" from an economic point of view Why is income inequality "efficient" from an economic point of view
Explain the law of diminishing marginal utility and Why are there so many more proprietorships than corporations, yet corporations account for so much more of the sales of business firms in the country?
Sketch a supply and demand graph to explain this change. Be sure to label your graph and clearly indicate the change of the curve.
Is demand for movie tickets elastic or inelastic? What is the change in the total revenue from the sale of movie tickets.
Illustrate what have been the implications for the business environment facing foreign investors of measures taken by the Indonesian government since the onset of the East Asian financial crisis in 1997.
Suppose that in Canada the opportunity cost of producing two television sets is three bushels of wheat. Suppose that in the United States the opportunity cost of producing 2 bushels of wheat is 3 television sets.
One might expect company in monopolistically competitive market to experience greater swings in price of their products over the business cycle than those in an oligopoly market.
The spreadsheet lists components of aggregate planned expenditure in the United Kingdom. The numbers are in billions of pounds.
Illustrate what happens to the natural rate of unemployment and potential GDP if cyclical unemployment.
Explain how does Global Intellectual Property Laws affect Telecommunication industry economic growth.
Create another diagram; once again start from an initial macroeconomic equilibrium. Explain both the SR and LR impact of a contractionary AS shock on Y. Use the appropriate diagrams and provide a brief real world example of this type of shock.
Use the following information to answer the questions. Compute real GDP for 2004 and 2005 using 2004 prices. By what percent did real GDP grow?
In an article about the financial problems of the USA today, Newsweek reported that the paper was losing about $20 million a year.
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