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Use the table to answer the question.
Consumption
$2,000
Investment
$1,000
Government Spending
Imports
$500
Exports
$600
The market value for each type of expenditure is given for a hypothetical country in the table above. Calculate the gross domestic product of this country.
$4,000
$5,100
$4,100
$3,900
When wages increase, will the typical person work more or less? Explain your answer using microeconomic theory. (Note: The substitution and income effects for leisure demand are an important part of this topic).
Name the key stakeholders you will consult when developing the policy. How will you explain the benefits of the policy to them?
Political scientists usually conclude that voters dislike negative campaign ads, but we can use game theory to offer an explanation for why they continue
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Find the amount of consumer surplus(CS) for a linear demand P = 20 - 2x, when (i) P = 0 and (ii) P =10 What is the maximum and the minimum amount of CS a consumer can have for this demand and at what prices?
Diesel Locomotive are extreamley durable. The price of a new locomotive is $450,000 and if it is overhauled every 15 years at a cost of $75,000 it can be operated indifinetly. Annual operating cost (fuel, labor) are estamated at $150,000 a year. What..
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Assuming the firm's isoquants exhibit diminishing MRTS, will it use more or less labor after the wage change? Will it use more or less capital?
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q.macro-economics is perhaps most divisive area of economics when functionalized to political decision making also
Suppose that the U.S. the demand for phones is given by P=700-Q that the supply is given by P=200+Q. In Korea suppose the demand is given by P=600-Q and supply is given by P=50 + (Q/2).
A firm has the capacity to produce 1,000,000 units of a product each year. At present, it is operating at 70 percent of capacity. The firm's annual revenue is $700,000. Annual fixed costs are $300,000, and the variable costs are $0.50 per unit. What ..
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