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1. How might a social critic respond to the claim that governmental involvement in the economy is unjustified because of the invisible hand theorem?
2. Why is the slope of the production possibilities frontier equal to the ratio of marginal production costs?
3. How might a critic respond to the claim that taxes always make the allocation of resources less efficient?
Notice that average product (that is, output per worker) continues to rise after marginal product has fallen. Why How can it be that output per worker can rise after the point of diminishing returns has been encountered
A total of 1000 residents in Minnesota were asked which season they preferred. The results were 100 liked winter best, 300 liked spring, 400 liked summer, and 200 liked fall. If the data were summarized in a frequency table.
1. Consider the following wage equation that has been estimated from a random sample of 35-65 year old older male workers:lnwi =3.825+0.152age-0.0014age2+0.103edui+εi (1) (12.10) (3.18) (2.05) (5.08)
To describe and explain the communication in a relationship you have with another person
the worker doing the mathematical operation by hand in 32 seconds, and with the computer application, the operation is doing in 16 seconds with a 50 % of improvement. (theoretic - experimental)/theoretical *100% is the used formula for the 50%
HEALTHCARE MANAGED CARE COMPANY IS EVALUATING TWO DIFFERENT COMPUTER SYSTEMS FOR HANDLING PROVIDER CLAIMS. There are no incremental revenues attached to the projects, so the decision will be made on the basis of the present value of costs.
Suppose that investment demand increases by $100. Assume that households have a marginal propensity to consume of 80 percent. Compute the first three rounds of multiplier effects as follows: a) What are the first cycle changes in spending? Total cu..
What generalization can you make from this exercise?
If the city wishes to raise as much revenue as possible from the tolls, where will the city decide to charge a toll: in the inelastic portion of the demand curve, the elastic portion of the demand curve, or the unit elastic portion? Explain.
Suppose that currency in circulation is $600 billion, the amount of checkable deposits is $900 billion, excess reserves are $15 billion, and the required reserve ratio on checkable deposits is 10%. Calculate the money supply, the currency deposit r..
If we examine the market for rice in USA during the year2007 and 2009, the demand of rice was higher in the year 2007 but it felldown during the year 2009, due to the drop in the export demand of rice.
Using the two economic indicators selected for your Housing Industry Overview Paper assignment, Compare and contrast at least two different eighteen month forecasts for each of the 2-economic indicators.
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