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Question: Tradition Most people tip for service in restaurants, but not for service at clothing stores or gas stations. Explain how this illustrates economic behavior by tradition rather than by market or command.
Economic and Social Goals Compare the figures below and then answer the questions that follow.
a. If the diagram in Figure 1 represents "needs" and "wants," how would you label the two diagrams in the figure? Explain your choice.
b. If the two circles in Figure 2 represent the goals of economic security and economic equity, where would you place a federal policy such as the minimum wage law-in area A, B, or C? Explain your choice.
c. If you were to change "Economic security" to "Economic efficiency" in Figure 2, would this change your placement of the minimum wage policy? How?
In a monopolistically competitive marketplace, a firm has market power because it produces a differentiated product. This means that the firm earns positive economic profit in the long run.
mrs seigal has two alternative activities to help relieve her backache. in the first she can visit a physiotherapist.
If Tarzan also Jane are each nation willing to give-up on hour of patrol for 2 pounds of fruit, is the current allocation of Cheetah's time Pareto efficient.
Discuss how the Multiplier leads to closing the gap between equilibrium and full employment - Question: Discuss why the tax multiplier is different. When would this multiplier be used
Create the application and/or a web site for a business (choice is yours). You must use at least three (3) programming techniques discussed in this class. Should be database driven with at least 25 products/items/records. Data should be able to be b..
1. Read the Macroeconomics section of the article "noise" by Fischer Black and comment on the current state of the economy in that context. Just one page please.
your hospital is considering opening a satellite urgent care center about five miles from your main campus. you have
Further assume that in a good year the artist earns $50,000 and that in a bad year she earns $30,000. calculate the artist's average propensity to consume on average.
In about 200 words briefly describe the importance of the law of diminishing marginal utility.
The life expectancy index for Haiti is:( Show steps please for each question) (See Table 1) The standard of living index for Haiti is:
1. How can sample data support or inform economic decision making within an organization? Can the sample data have errors or be problematic when making decisions? Provide an example.
State the essential difference between the classical and Keynesian schools of thought. If you were a public policymaker and received conflicting advice from a classical and a Keynesian economist, how would you choose Explain.
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