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For several years, Albert acted as a collection agent for Paulette. Recently, Paulette revoked Albert’s authority to collect payments from customers. However, neither Paulette nor Albert told any customers of Albert’s termination. Yesterday, Theresa, one of Paulette’s customers, paid Albert the money owed to Paulette. Albert never gave this money to Paulette. Is Theresa liable to pay Paulette? Why or why not?
If the price of 35 inch HDTVs declines by 20% and the total revenue from the sale of 35 inch HDTVs rises, what can you say about the price elasticity of demand for 35 inch HDTVs? Will this price reduction necessarily lead to an increase in profits fo..
What is the role of the IMF (International Monetary Fund) in the process of Economic Development of developing countries? On Dec 2, 2015, the IMF has upgraded the Chinese currency Renmenbi (the Yuan) to one of the world's reserve currency (so called ..
Suppose that the Fed has decided that it should have an activist monetary policy in order to stabilize the level of GDP by managing the money supply. When the following events occur, show whether the Fed’s policy will actually stabilize GDP or not:
If a firm can double inputs and, thereby, more than double output over the range of output the market demands, it is a. The tendency for the poorest risks to buy health insurance and the tendency of the insured to take more risks with their health ar..
q1. the price of a firms product increases from 5 to 6. as a result the quantity demanded of the product declines from
Official intervention in the foreign exchange market does appear to be a useful policy when overshoots take place in fragile circumstances.What is an overhsoot? Explain the exact form of this official intervention to counteract a specific overshoot. ..
Discuss the implications of the outsourcing of labor for the nation as a whole, and see if you can find an example to cite within the region, where a company or factory has shifted production to Asia or elsewhere overseas.
Consider a hypothetical economy that produces at its long-run macroeconomic equilibrium at a price level of 100.
You have $1,000, which you can invest in a risk-free investment, earning 2% with certainty. Alternatively, you can invest in a project that has a 30% chance of losing $500, and a 70% chance of gaining $400. What is your expected wealth with each inve..
Governor Brown, from the state of Taxifornia, wants to increase sales taxes to bring in badly needed revenue to support state operations. He is looking at taxing various goods and services. Will the state tax revenue be greater if the state imposes a..
Assume that major wheat producers in the world increased their land under wheat by 30 percent. Graphically show the effect of increase in land under wheat on the grain market.
What is the difference between a movement along and shift of the demand curve? Let us consider the demand for DVDs. What will cause a movement along the demand curve for DVDs and what will cause the demand curve for DVDs to shift? How will the curve ..
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