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Recently, the House of Representatives passed legislation to increase the minimum wage in the nation from $5.15 to $7.50. What are the pros and cons of this proposal? Provide an analysis based on the demand and supply of labor.
What are the two characteristics of public goods. Is U.S. border control a public good or a private good.
If we know that expansionary monetary policy cannot create real economic growth in the long-run, why would it ever be used in the short-run?
About one out of every ten dollars of federal government spending goes toward interest on the national debt. The most important source of local tax revenue is income tax. The most important source of state tax revenue is the sales tax.
The marginal cost to X Co. of supplying an additional tractor to a customer is $300. X Co. sues Mr. Y for breach of contract. How much damages should be awarded to X Co
Give a numerical example to Explain how which a monopolist's marginal income can be upward-sloping over part of its range.
Suppose that the government increases spending from G to G1 while simultaneously raising taxes in such a way that, at the initial level of output, the budget remains balanced. Show the effect of this change on the aggregate demand schedule. How does ..
Warren Buffett’s company went public in 1965. The public offering price walls $18 per share. The stock was traded at $92,400 on April 10, 2009, and the market value of the firm was $97.8 billion. What is the firm’s average annual compound growth rate..
do you think the price of crude oil has produced an upward or downward supply shock, or neither? How can you tell? Looking at historical data, when did the most recent oil-related supply shocks occur?
How much profit does the monopolist earn? How much consumer surplus is left? (if any) Calculate the social welfare loss.
Sam is interested in buying two types of goods, x and y. He can either use all his income to buy 3 units of x and 9 units of y, or 9 units of x and 3 units of y. If he spends all his income on x, how many units can he buy?
q. db - does microsoft have a monopoly over operating systems?former dean of the sloan school of management at
Suppose demand and supply are given by Qd = 100 - P and Qs = 2P + 25. 2. Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of $ 40 is imposed in this market.
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