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According to the new growth theory A. patents should be revoked so that all can share the benefits of new technology. B. the growth of technology is determined outside the economic system and cannot be explained by economic theories. C. preventing imports is an important technique that governments can follow to generate greater domestic economic growth. D. knowledge about how to produce goods and services is an important source of economic growth.
The following are the three research documents that play an important role in the monetary policy process and at Federal Open Market Committee except the. Among the research ?documents, the only book that is given to the public is the
The economic approach to value suggests that the overall value that is created through the production and sale of any good is roughly equal to the sum of the consumer surplus and the producer surplus associated with the good. In this context, with th..
In order for third-degree discrimination to be possible, which of the following features is not required?
Bob and Ray are two economics majors who are sharing an apartment for the year. In a flea market they spot a 25 year old sofa that would look great in their living room. Bob's utility function for money and sofas is uB(S,MB)=(1+S)MB and Ray's utility..
Must include a separate reference page, formatted according to APA style as outlined in the Ashford Writing Center.
Elucidate that the balance sheet balances if these are the only assets and liabilities.
The Coase theorem suggests that efficient solutions to externalities can be determined through bargaining. Under what circumstances will private bargaining fail to produce a solution? Explain with a creative and unique example.
Consider a closed economy which can be characterized by the following equations: C = 400 + 0.8YD I = 600 + 0.1y- 1000r G = 300 T = 125 (M/P)d = 0.2Y-6000r (M/P)= 400 a. Solve for the goods market equilibrium and state the equation for the AD and IScu..
Explain how the Heckscher-Ohlin theorem is obtained, using either the “physical” definition or the “price” (or “economic”) definition of relative factor abundance.
Suppose that in 2014 there is a sudden, unanticipated burst of inflation. Consider the situations faced by the following individuals. Who gains and who loses? A banker who made an auto loan that the auto buyer will repay at a low fixed rate of intere..
Suppose, initially, the interest rate parity condition holds. Then at some point, U.S. interest rates are 4 percent more than rates in the EU. Would you expect the dollar to appreciate or depreciate against the euro, and by how much?
The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula q = 98e−3p2 + p, where q is the demand in monthly sales and p is the retail price in hundreds of yen. Determine the price elasticity of demand E when the retail pri..
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