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Discussion
Go to The Economist website and search for the Big Mac Index for a recent time period. Compare the Purchasing Power of the United States with another country. Try to choose a country with which you are not very familiar. What does this parity say about the potential standard of living in the country you chose? What does it say about the potential wage level?
What would be the second reason? Assume that the marginal cost curve is linear. (Hint: The second reason relates to average fixed cost)
A provider charges $200 for an office visit. The insurer's allowed fee is 80% of charges. The beneficiaries pay 20% of the allowed fee. In this case, how much would the insurer pay? How much would the patient need to cover?
A price-taking firm’s short-run supply curve is. For a firm facing a downward-sloping demand curve, marginal revenue will be less than price. In making output decisions, a firm should produce the output level for which marginal revenue equals margina..
Jose rents office space for $20,000 per year. He uses the office to fill out tax returns for 1
You identify a vacant piece of land zoned for industrial warehouse use which you can purchase for $3.0 million today (an amount which will need to be paid immediately). After detailed analysis you find that constructing the warehouse will take one ye..
Battery life is an important issue for many smartphone owners. Public health studies have examined "low-battery anxiety" and acute anxiety called nomophobia tha
Moving along a demand curve, the quantity demanded decreases 8 percent when price increases 10 percent. Find the arc price elasticity of demand over the price range from $3 to $7. Interpret the value of price elasticity.
Consider a closed economy in which the money supply totals $120,000. The price level is constant at a value of 2 and nominal GDP is currently $200,000. Calculate (income) velocity for this nation, carefully following all numeric instructions.
The price of oranges falls. What happens in the market for apples, which are a substitute for oranges?
Based on economists' forecasts and analysis, 1-year Treasury bill rates and liquidity premiums for the next four years are expected to be as follows:
What is the total cost of pollution reduction?
Zooey is a single mother of two young children whose husband died in a tragic car accident. She earns $20,000 per year working as a cashier at a grocery store. The government uses a negative income tax system in which Taxes owed = (1/4 of income) - $..
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