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Question: Jack sold a baseball card collection for $2,500 that he bought a year ago for $2,500. He says, "At least I didn't lose any money on my investment in this baseball card." His economist friend points out that in effect he did lose money because he could have received a 3 percent return on the $2,500, which is $75, if he had deposited the money in a bank. The economist's analysis in this case incorporates the idea of
Explain how scarcity and poverty are different. Give examples to support your reasoning. The economic way of thinking requires administrators to incorporate eight principles.
Draw a clearly labeled dynamic AS-AD diagram that shows the long-run equilibrium point, as well as the economy's current growth rate of real GDP, inflation, and expected inflation. Label this point E0. Be sure to include both the short-run and lon..
If Michelle devotes all her resources to growing potatoes, she can raise 200 pounts of potatoes per year. If she devotes all her resource to raising chickens she can raise 50 chickens per year. (If she apportions some resources to each
What is the difference between probation and parole? Is shock probation/parole a better alternative than traditional probation/parole?
Explain why do you think that whenever the government needs to raise their revenue they usually decide to increase the tax on items such as gas
the manager of a firm that receives revenues of 40000 per year from product x and 90000 per year from product y. the
1. How can sample data support or inform economic decision making within an organization? Can the sample data have errors or be problematic when making decisions? Provide an example.
It offers all the amenities and benefits of a tight-knit small community, with the benefits of living close to the big city. Some years pass, and several children and adults in the community start developing extensive and similar illnesses.
Explain using supply and demand graphs how land use regulations, that specifically limit residential development in many areas in the U.S., might contribute to a housing bubble?
Compute the level of GDP per capita in each country measured in local currency. Compute the marker exchange rate between the currencies of two countries.
Evans buys unit trusts and invests for income. He invested £50,000 in a unit trust with an offer price of £125 per unit, and sold the units after 5 years at £162 per unit. During this period he received income from the units of £6,200. This income..
Should a country's income be distributed to its members based on their contributions to production of that total income or according to the member's requires?
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