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Suppose your country adopted central planning for its economy, and you became the chief planner. Among the millions of decisions that you need to make for next year are how many units of car to produce, what type of cars to produce, and which consumers should receive the product. To make these decisions intelligently, what information would you need about the car industry? What information would you need about each of the people in your country? How well do you think you could do your job?
lean's deluxe garment bag sales increased from, 4,800 units to 6,000 units in response to price drop from $30/unit to $20/unit. Calculate arc price elasticity of this product using mid-point formula.
Which of the following represents an example of a major cartel in global markets? ? ?The Organization of Wheat and Corn Exporting Countries (OWCEC). ?The Brotherhood of Scrap Iron Exporting Countries (BSIEC). ?The Organization of Petroleum Exporting ..
Graph and label as either direct or indirect the relationships you would expect to find between (a) the number of inches of rainfall per month and the sale
Suppose that you are trying to determine the after effects of hurricane Katrina on the economy of Louisiana. Which assumptions could be made to simplify the study? Consider the effects on all of Louisiana’s interstate trade partners. Determine the ef..
How does microeconomics and macroeconomics play a role with the Great Depression of 1930's?
What is the difference (if any) between a guaranteed bonus and a salary? Please explain.
Two political candidates are vying for town mayor and the key issue is how much to spend on the annual Fourth of July fireworks. Among the 100 voters, 40 want to spend $30,000, 30 want to spend $10,000, and 30 want to spend nothing at all. What is th..
The market demand curve for the industry is D(P) = 240 ? P/2. At the equilibrium market price, each firm produces 20 units. What is the equilibrium market price, and how many firms are in this industry?
Oceania is a small open economy. Suppose that a large number of foreign countries begin to subsidize investment by instituting an investment tax credit (while adjusting other taxes to hold their tax revenue constant), What happens to world investment..
What are some of the key things that can shift the supply and demand of money? Explain how these shifts might happen.
Write a report named Tax Planning Considerations for Employees. The report will involve tax planning issues related to the organization’s employees. USco designs and manufactures specialized equipment used in various manufacturing applications.
Consider the following distribution of income in a 12 person economy, with the modern urban wage=3, the traditional rural income=1 and the informal urban wage = 2: (1,2,3,1,2,3,1,2,31,2,1). the poverty line is at 1.3. What is the level of absolute po..
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