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An individuals income rises from 96,000 per year to 102,000 per year and as a consequence the person's purchases of movie downloads rise from 3 per month to 5 per month this individuals income elasticity of demand is nothing.
Use the production function equation to describe the ‘income inequality hypothesis', i.e. that labour income is being redistributed to capital. What might that particular model imply about what is happening and why?
He lives in the other house and pays $20,000 in dividends per year. If he were to rent the house in which he lives, he could earn $17,000 per year in rent. How much do the housing services provided by these two houses contribute to GDP?
Under certain circumstances, expansionary Fed policy may not have much of an effect on the rate of economic growth. Give a reason why, and explain?
If the organization wishes to restore sales to 10,000 per month determine the price they need to charge.
A new production technology for making vitamins is invented by a college professor who decides not to patent it. Thus, it is available for anybody to copy and put into use.
Under the Physicians' cooperative model, if the supply price of physicians were to rise, how would this affect the equilibrium staff size in the open-staff case How would it affect the optimal staff size in the closed-staff case
How do the labor laws compare to those in The United States? How will the company have to change its operations in order to fit into the culture of the country?
What was the result of the Kenedy tax cut of 1964? I believe it is that the unemployment rate decreased and the economic growth rate increased, yet I see sometimes where it states that unemployment increased
The figure is drawn for a monopolistically competitive firm. ____ 18. Refer to Figure 9. If the average total cost is $15 at the profit-maximizing quantity, then the firm's maximum profit
Two neighboring island countries called Bertland and Ernamia.
Are they required to ensure economic growth and a prosperous country.
What is the difference between a public good and a private good? What are the principal characteristics of each? What are the two characteristics of public goods? Why is there a free rider problem when it comes to public goods?
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