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Why the Federal government doesn't order the Bureau of Printing and Engraving to print enough extra currency to cover all of these property losses due to natural disasters and give it to the storm victims so they can get things back to the way they were before the disaster?
Suppose each monopolist is allowed to sell both domestically and export the good. At what price will the good be traded? What quantity will each firm sell domestically and what quantity will it export?
illustrate the effects of capital formation by comparing the production possiblility curves at the present time and ten years in the future.
A firm is using 10 workers, and their average product is 200 units. Suppose the marginal product of labor is 250 units. In answering the questions below, explain your answers briefly. How much output is the firm producing? Is the marginal cost curve ..
Discuss utility and some of the properties about people's preferences. One is that "more is better ".do you agree that is always the case and if not do you have an example?
The value of the action The cost of the action The difference between the benefit and the cost of the action
Draw the market supply and market demand in one graph. Next to it, draw the situation of one firm, with the average total cost, the marginal cost, and the price (which under perfect competition is the marginal revenue).
Measuring GDP The following table shows data on consumption, investment, exports, imports, and government expenditures for the United States in 2009, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the..
Suppose there is a $200 billion recessionary gap. If there are no taxes or imports to restore the economy back to potential GDP how much should government expenditure be changed if the marginal propensity to consume is 0.75? Does government expenditu..
Can we say confidently whether good X is a normal good or an inferior good.
Assume you are a U.S. Senator. The Senate has been asked for its "advice and consent" to a treaty negotiated by the Executive Branch. The treaty would require every nation of the world to reduce its carbon emissions by 20% by the year 2035. Exactly h..
If the current account is in surplus and the capital account is zero, then
Calculate the cost elasticity of demand as well as for paint as well as show your calculations.
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