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Explain in detail why economic equilibrium necessarily implies concordance between expectations about concrete events among all economic subjects. What does this imply about the possibility of knowing whether any given economic situation is in equilibrium?
Explain the difference between a single market demand and aggregate demand (AD). Explain the difference between a single market supply and aggregate supply (AS)
Until a few years ago, U.S. cars exported to Japan had the driver controls on the left side (as in the United States). The Japanese (like the British), however, drive on the left side of the road, so Japanese cars sold in Japan have the driver contro..
What measures can government put into place to solve this situation.
Use the theory of transaction costs to justify protecting the following rights by injunction or damages: Suppose that two people choose to litigate a dispute. Should the law presume that if two parties are prepared to litigate, transaction costs must..
This week requires the student to address six unresolved issues in macroeconomics, each of which is central to current political debates.
Economic analysis is often viewed as the science of rational decision making in a world of scarce resources. We need to think rationally because we live in a world where resources are limited but where people's wants are unlimited. There is not enoug..
In order for price discrimination to exist
During our first class I presented a list of 18 domestic and global factors that impact an economy and companies/organizations within the economy. Select any three factors from this list and explain how they have impacted your company/organization an..
Draw the Supply and Demand graph with the price floor. Remember to label all points and axes.
Suppose that, from an initial consumer equilibrium position, the price of good X rises while the price of good Y remains the same. Using indifference curve anal
Suppose there are 81.0 million people not in the labor force; 154.0 million in the civilian labor force, and 140.9 million employed. Based on these numbers, what is the unemployment rate?
You arranged the subsequent information to use in evaluating the financial feasibility of starting your own agency.
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