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Specialization and Exchange
Please select one item that you can see from where you are sitting right now – and list and describe as many people as you can think of that played a role in getting that item to where it is right now. (One Limit Only: you can’t use the textbook as your item.)
You are in the process of deciding to buy a car. You found a brand new Hyundai Elantra for $22,000. You read the reviews and they all sound good. You plan to keep it for 5 years. You do some rough calculations on the amount of expenses which includes..
Why might regulatory agencies utilize labor more intensively than private firms? What will happen to the regulatory share of employment if the rate of growth of regulatory employment stays five times higher than overall employment growth?
Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium price?
If income elasticity of demand is 2.12, it means that quantity demanded will __________ by 2.12 percent for every __________ percent __________ in income.
Some businesses will examine their pricing structure and modify it in order to maximize revenue, either by raising or lowering price. Why organization chosen lower prices to increase revenue.
Elucidate how a 20% decline in the cost of business travel would impact this company's budget if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour.
The Governor of Arkansas has asked you (her crack economic advisor) to analyze how employment in trucking and poultry processing will be affected if the legislature passes a proposed law that will increase labor cost in both industries by ten percent..
According to comparative advantage, in which industries would you recommend the country to specialize. Has the country specialized in your suggested industries.
Find the equal annual payment series that would be equivalent to the following increasing series of payments if the interest rate is 12% (a) compounded annually; (b) compounded continuously.
illustrate what is the real GDP in every yr, given which the price index has risen from 100 to 104.5 in the 1st yr also up to 108.3 in the 2nd yr.
What are some of the main advantages and disadvantages of the extensive financial and commercial networks linking nations today?
1. Draw graphs showing a perfectly competitive firm and industry in long run equilibrium.
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