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A museum increases its admission price by 10 percent. As a result, total revenues increase by 10 percent. This implies that, ignoring the sign, the price elasticity of demand for admission is:
The Federal Reserve is most likely the most independent government agency in the US. Independence means that Fed is free from presidential and congressional political pressures.
Suppose that due to a new government study, consumer preferences for chicken suddenly increase. In the model of consumer theory, this would be represented by, During the 1990s, some countries lifted price ceiling on eggs.
Describe the effect of each of the following events on the market for labor in the computer manufacturing industry. Use graphs.
Calculate the correlations between life expectancy and the two measures of GDP per person
Assume a simplified banking system in which all banks are subject to a uniform reserve requirement of 20 percent and checkable deposits are the only from of money. A bank that received a new checkable deposit of $10,000 would be able to extend new..
Aware of consumer sentiment, the largest supermarket chains in the country vow they will not purchase food products that use genetically modified crops.Does either of these cases run afoul of WTO policies?
Determine the effective interest rate that Chuck would receive when the bond matures, if it has paid dividends as scheduled.
This question is intended to understanding of the basic Ricardian model by having you work through a problem on your own. There are two nations, Canada and United States, and two goods X and Y.
Two firms are competing in an oligopolistic industry. Firm 1, the larger of the two, is contemplating its capacity strategy, which we can broadly characterize as "aggressive" or "passive." The "aggressive" strategy involves a large increase in cap..
by Richard Easterlin, the level of per capita income achieved in the South after the Civil War remained considerably below that in the rest of the nation as late as 1930. Evaluate the hypotheses that have been suggested to explain the poor econo..
What economic problem is the nation facing and what would be the goals of your Fiscal Policy
Why does rent control result in a shortage of rental units.
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