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Macroeconomics:
Using the PPC as a springboard for your analysis, what effect would for going consumption today in order to "invest" for tomorrow have on future production possibilities? Now consider the choices our government faces when it has limited tax revenues to fund the unlimited wants of its citizens. Describe some of the choices the government makes between consumption today and investment for tomorrow.
Distinguish between private and social costs and use this distinction to explain why the air in cities is so polluted from automobile exhaust fumes. Examine how government can try to correct this externality.
Using indifference curve analysis, explain and show graphically the effects of higher gasoline prices on:
Find out the price elasticity of demand regarding to the money price using "arc elasticity."
Which exchange rate regime minimizes the effect on output-fixed or floating?
You're the absolute czar and head of union of 1,000 plumbers in Austin, Texas. You've the absolute power to set the wage at which the plumbers will work. You wished to achieve full employment at highest possible wage; (b) you wished to maximize the..
Purchasing power parity conversion factor is a common phrase in the international economics. What is the meaning of this phrase?
We are constantly hearing about mass exodus of jobs in other countries (phone service, computer services, sales). Use the concept of comparative advantages to explain why this is occuring. Also, explain how the U.S. beneits more in the long run from ..
Now suppose that for the same three voters and candidates above, that it is discovered that candidate z once put ketchup on his eggs. Voter 1, is appalled and changes his ranking to x first, y second, z third. Voter 2, has always secretly ketchupe..
Problem: What are the implications of globalization to our global economy?
Illustrate Toms price elasticity of demand also what does his demand curve look like (either verbally explain the shape of the demand curve
where p represents the number of Pokémon someone has caught, and 0 represents some private information. 0= 100 for a low quality date (Just a typical Pokémon trainer) whereas 0 = 2311 for a high quality date (a Pokémon master).
What is the value at point (b) and why is it important? At what level was the price ceiling set? What is the value at point (c) and why is it important? At this price ceiling level, will the monopoly make any monopoly profits?
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