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Q. Define inflation. Assume that you live in a simple economy in which only three goods are produced and traded: fish, fruit, and meat. Suppose that on January 1, 1998, fish sold for $2.50 per pound, meat was $3.00 per pound, and fruit was $1.50 per pound. At the end of the year, you discover that the catch was low and that fish prices had increased to $5.00 per pound, but fruit prices stayed at $1.50 and meat prices had actually fallen to $2.00. Can you say what happened to the overall "price level?" How might you construct a measure of the "change in the price level?" What additional information might you need to construct your measure?
At this level of pollution, what is the marginal cost of pollution control.
In 2003, when music downloading first took off, Universal Music slashed the prices of CDs from an average of $21 to an average of $15.
Suppose that all the necessary conditions exist for the realization of equal wage rates in every market of labor.
How much is the uniform annual revenue in years 2 through 5 to achieve economic equivalence if the company decides to use MARR.
Assuming sum-of-years digits depreciation, what book value will Model-I have after two years.
Based on the IRS actuarial table, Mario has a life expectancy of 20 years. If Mario receives 12 monthly payments of $1000 the first year, how much taxable income must he report on his tax return.
The People's Bank of China, the country's central bank, raised the reserve requirements of its top commercial banks to put a squeeze on the credit market
Explain how each change mentioned in the article impacts upon the aggregate expenditure model.
Electoral College system take a country named know land that has. Suppose there are 9 small states in know land where each have 1 million people in.
What are the strengths and weaknesses of the measure of welfare used by many economists: consumer welfare plus producer surplus.
Suppose we only use labor in a production run. How do we determine the optimal level of labor input in the short run? In other words what condition must be met
a homeowner can insulate his house and save $50 each year in heating bills. If the interest rates are 6%, should the house owner insulate or not.
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