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If the price of a good rises, what are people likely to do? a Substitute a less expensive good b Buy more of the good c Buy more of all goods because of added buying power d All of the above Other things being equal, a decrease in the cost of producing a good will cause which of the following? a An increase in the opportunity tangency of producing the good b A rightward shift in the supply curv c A decrease in the quantity supplied d An increase in the price of the good Which of the following is an unintended consequence of rent controls? a lower rents for tenants b a short of rent-controlled apartments c a surplus of rent-controlled apartments d All of the above.
In the late 1990s, a growing number of economists expressed concern that the world policy makers were often focusing too much on fighting inflation, without fully taking into accou
More than ever, groups and teams are responsible for executing tasks in the workplace. Take a position on the following statement: All organizations should use the group structure
define history and full deatil of command economy
The consumer price index for the 1978-82 periods and the GDP deflator follow. This was a period of unusually high, but declining, inflation. (The CPI is equal to 100 in the base ye
P2 and P3 play with a penny. P1 picks between same (S) and different (D). After observing P1's choice, P2 and P3 get to picked Simultaneously independently either head (H) and tail
x=40-0.2p where x=x1+x2 c1=50+2x1+0.5x1 c2=100+10x2
WHO IS JOHN MANYARD KEYNES
Discuss how income flows in governed economy, frugal economy, spend their economy.
The price of gasoline has recently come down as has the quantity. Show graphically and explain what might have caused this.
Individual A has UA(XA,YA)=lnXA+2YA and has $500. PX=5 and PY =10. (a) Find the optimum. Show that it is indeed the maximum. (b) PX=10. Find the new optimum. (c) Calculate
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