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Which statement is consistent with someone saying that they received $100 in consumer surplus?
"I was hoping to buy a new winter coat for $100, but the cheapest one I could find was for $200."
"I was hoping that my boss would give me a $200 bonus for completing my project, but she gave me $150."
"I thought I would have to pay $100 to have my carpet cleaned, but I found someone who would do it for $50."
"I would have been willing to pay $250 for a camera, but I found the one I want on sale for $150."
Nancy's price-offer path is horizontal. Explain how does Nancy's expenditure on good 1 respond to changes in p1.
If this economy were an open economy with a flexible exchange rate, would the usual crowding out forces be supplemented or offset by forces from the international sector
Full employment is without a doubt the ultimate goal of every nation; however, in spite of the failures of controlled labor markets over the past thirty years there is still a lot of controversy
Consider a country’s trade off between the production of two ‘goods’: environmental quality (extent to which their environment, including air and waters, are clean), and all other goods. Why is there a trade off? Explain.
Review the biographies of each of the seven members of the Board of Governors.
Suppose you were provided a gift of a gold mine that generates $1,000 of net income every year, indefinitely. And suppose equilibrium rate of interest is 5 percent. Illustrate what is present value of that gold mine.
Maritime Insurance Company offers insurance policies for recreational boats.
How should the IMF (international monetary fund) operate? Why is the topic of interest to you in this course? How do you want to answer the question or issue you are pursuing?
A mathematical approximation called the rule of 70 tells us that the number of years that it will take something that is growing to double. Elucidate how long will it take Mexico's real GDP per person to reach the level that the United States was at..
Explain why does this happen. Research the recent history of gasoline pricing in your area, and attempt to relate any fluctuations you observe to documented supply and demand factors.
Think of an externality in your community. Explain what type of externality it is. How can it be resolved (through the market and/or through government policies)?"
we want to take a random sample of four accounts in order to learn about the population. How many different random samples of four accounts are possible?
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