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What is the Institutionalist s theory regarding the instrumental and ceremonial aspects of production and distribution in Political Economy? Note: a discussion of the Veblenian dichotomy, and how it fits into the theory of distribution and production should be included in your answer.
Recently, the average rate paid by banks on savings accounts was 0.45%. However, at the same time, inflation was around 1.50% what was the average saver’s real rate of interest on his/her earnings? (b) Banks expect that the rate of inflation in the c..
You can suppose any single peaked preference which you want and Characterize the equilibria of the model.
The government often strictly regulates noise and chemical pollution by industry to overcome which market failure?
Assume that when an economy has a GDP of $500, Consumption is $550. The MPC is .75. Investment is 25. Begin the problem by setting up an Income/Consumption Schedule like the one on page 220 of your text. Set up only the first two columns (1) and (2)...
The law of demand implies that when the price of a good rises, people buy less of it. This makes the demand curve slope monotonically downwards. A textbook exception is the so-called Giffen good that by definition behaves in the opposite way.
Each of the following is considered a disadvantage of federalism for democracy EXCEPT
Three years ago Maricopa County implemented a policy to tackle the problem of particulate matter in the air. The project/policy consisted in paving and compacting some of the roads the dairy industry uses for feeding the cattle and transporting the m..
Tech Engineering Inc. makes a consumer product for which the following cost data are available. Fixed cost/ year = $120,000 Variable costs/ unit = $15 Determine the breakeven volume if each unit can be sold for $40.
We mentioned Milton Friedman's advice that central bankers should follow a "fixed money growth rule," where the broad money supply (M1 or M2) grows the same rate every year. What is the difference between a fixed money growth rule and nominal GDP tar..
At what value of X will Q be at its maximum. Illustrate at what value of X will Diminishing Returns set in.
The Truck Stop is a repair facility specializing in the maintenance and repair of diesel engines just outside of Carlisle, Pennsylvania--one of the largest trucking hubs in the U.S. Mechanic and staff salary expenses are estimated on an hourly basis,..
Which of the following is the correct definition of economic growth?
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