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Analyze if the statements that are presented below are True, False or Uncertain. You MUST justify your answer to get credit. Answers without justification (even if they are correct) will be given zero marks.
A. If consumers' income decreases and the wage of the laborers in the tangerine industry falls, the quantity purchased in this market will rise and the price will fall.
B. If X and Y are substitute goods, the relative change of the demand in X in response to a relative change in the price of good Y is always positive.
C. If the prices of all goods and the consumer's income are multiplied by a constant α > 1, the budget set of the consumer remains the same.
D. If Tom has lexicographic preferences, then the only possibility for Tom to be indifferent between bundles A and B is if A = B.
Economic history since the industrial revolution [in the United States] strongly suggests that technical learning, not the process of perfect competition, drives growth over time. Please explain.
An economy adjust on its own to close a recessionary gap because there is
Suppose that a computer software company controls the operating system market. Although the government knows that the price is higher than it would be in the presence of competition, it believes that such profits are crucial to incentivizing innovati..
For the United States, empirical studies indicate that over the past two decades the cost of international transportation relative to the value of U.S. imports has: Should international transportation costs decrease, the effect on international trade..
How does government implementation of Keynesian fiscal policy seek to reduce fluctuations in the business cycle, and how does this view differ from economic thought prior to the Great Depression?
Firms in the market for soccer balls are selling in a purely competitive market. A firm in the soccer ball market has an output of 5,000 balls, which it sells for $10 each. At the output level of 5,000 the average variable cost is $6.00, the average ..
Why is environmental analysis important for an organization? Please be detailed.
If EUR/USD exchange rate increases in the future, the USD value of your Euros will become higher, which will benefit you
a. How many ways can sprinters come in first, second, and third in a race with 10 runners?
The mission must comprise APA format references on the final slide and in-text references on the slide where information is presented.
q1. the supply is nerf balls qs -100000 8000p and the demand is qd 140000 2y - 7000p where q nerf balls per month
What are your views on nationalization of geo-resources that a country views as its national assets, that a private foreign company also views as its private assets?
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