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Could production and consumption take place without money? If you think they could, give examples. Before reading on, how would you define scarcity? Must goods be at least temporarily unattainable to be scarce? If we would all like more money, why does the government not print a lot more? Could it not thereby solve the problem of scarcity 'at a stroke'? What is it that makes each one of the above news items an economics item? Which of the following are macroeconomic issues, which are microeconomic ones and which could be either depending on the context? Assume that you are looking for a job and are offered two. One is more unpleasant to do, but pays more. How would you make a rational choice between the two jobs?
The industrialization period of the late 1800's saw several new forms of energy developed, including 1. more effective use of humans and animals to power machinery using treadmills.
Suppose the consumption function is: C = a1 Yd + a2 WRE/S + a3CC Where all the a's (the sensitivity parameters) are greater than zero. Initial conditions: Let a1 = 0.60, a2 = 0.04, a3 = .5, WRE/S = 18,000: CC = 90 Solve for C in terms of Yd. Se..
A gasoline station very near a profesional football stadium parks cars on its lot to make money on game days. Last year it charged $4.00 per car and parked 1000 cars. This year it raised the parking price to $5.00 and parked 850 cars. Did the stat..
1. if a firm purchases a part of its supplies on the open market this is called a a spot market purchaseb a long term
Suppose that the demand for plastic surgery is price inelastic. Are the following statements true or false? Describe your answer for full credit. When the price of plastic surgery increases, the number of operations decreases
The 5-recent or historical government actions dealing with the macroeconomic policy. For each scenario estimate if it represents fiscal policy or monetary policy, and describe your reasoning.
1. the federal reserve provides which of the following dataa. federal funds rateb. stock price of gec. bond yields of
If the two are generally not competing on price, are there any forms of non-price competition that might emerge? If so, describe them. Or would such other forms of competition also exhibit "kinked type behavior"?
how do you define social diversity and business ethics? how has a more diversified labor force affected the corporate
Determine the residual demand Intel facts after accounting for the quantity supplied by the competitive fringe for any level of price and how many P80 chips will Intel supply per month?
When the price of X is $1 and the price of Y is $1 and income is I, Joe Panther spends $100 on good X. How many units of goods X and Y does Joe purchase before the price increase and finding the $100.
Draw in the line showing the equilibrium-relative commodity price in isolation in each nation.
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