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A country that has never had its own currency has formed a central bank and put you in charge of developing money. It needs to perform the necessary functions of any good currency efficiently (i.e., being a medium of exchange, a store of value, and a unit of account). Because your country is interested in trading with other members of the global economy, other nations must have faith in its fitness and the currency exchange markets must be willing to accept it. Though your answer needs to be correct in terms of economic theory (so be sure to read the assigned chapters), creativity and having fun with it is strongly encouraged.
Illustrate what do your previous answers imply for the price of haircuts relative to the price of food.
Barb also Jim run a business which sets up also tests computers. Assume which Barb also Jim can switch between settings up also testing computers at a constant rate
Ellen and May can produce two goods in a day, breakfast bars and frog food pellets. In a single day, May can make 10 breakfast bars or 30 frog pellets
Smoking is banned from most public buildings in most states across the U.S. today. What type of market failure is the smoking ban intended to address. Illustrate what other options might be considered.
what would the benefits of each action be (besides emissions reduction)? what would the costs of each action be? How would you decide what was the best level of emission reduction?
What is the point price elasticity of demand at a price of $70? What is the point price elasticity of demand at a price of $60?
Why do celebrity icons receive such widespread attention and adulation
Explain is it possible for the new long-run equilibrium price to be above the original long-run equliibrium price.
Elucidate what is meant by the paradox of mercantilism. Explain how was this reflected in mercantilist wage and population policies.
What is player 2's maximin strategy? If the game were played with Player 1 moving first and player 2 moving second, using the backward induction method, what strategy will each player choose?
If the real wage can adjust to equilibrate labor supply and labor demmand, what is the real wage. In this equilibrium, illustrate what are employment, output, and the total amount earned by workers.
Many police officer positions being advertised today require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material. From an economics perspective, why don't police departments increa..
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