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1. Explain how uncertainty in calculating the true GDP deflator makes it uncertain how much the production of goods and services has increased.
2. Explain how Alan Greenspan's strategy as the Fed Chairman may have contributed to the 2008 financial crisis. (3 sentences or less)
Which of the following best describes the classical view of economics?
Demand" is best defined as the relationship between:
Describe each alternative`s break even pontin unit. At what volume of output would the two alternative yield the same profit.
What does it take to ensure that Starbucks' customers are satisfied? (Why) Is satisfaction an important metric for Starbucks to manage? Maximum of 50-75 words
Suppose there are two types of customers for a cell phone service: undergraduates (U) and grad Students (G). The aggregate (inverse) demand curve for undergraduates is PU = 100 − 0.25QU and the aggregate (inverse) demand curve for the graduate studen..
Assume that the demand for a product X is heavily influenced by the price of another product Y (Py), and the income of consumers (I). The cross-price elasticity of X with respect to Y is exy = 1.25, and the income elasticity is eI = 2. Are X and Y co..
Fixed costs of a company is $20,000 per year with variable costs of $15 per unit. If this company sells each unit for $20. What is the breakeven point? Show the answer with graph.
Big pharmaceutical companies are oligopolies and as such their strategic decisions are influenced by the rival's actions. Describe the pros and cons of the oligopolistic firms in the healthcare sectors
Consider again The Experience Machine from Week 2. Would you get in the machine? Carefully explain why or why not. Utilitarianism is a deceptively simple moral theory that has quite a bit of intuitive appeal. But it also has its share of problems. H..
Some economists believe that business owners who emphasize profit maximization will hire the most productive workers regardless of the personal characteristics of the worker; hence, these firms will drive discriminating firms out of business.
Identify two public policies that affect population growth - birth and fertility rates.Do you support these policies? Explain. What – other than public policy – affect population growth rates in different regions? Give examples.
Thoroughly and accurately graph a simultaneous increase in supply and a decrease in demand. Explain what is happening in your graph and why.
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