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You spend $5000 on one year of culinary school tuition immediately after high school. The tuition is not refundable. After 3 months you want to go to college rather than continue culinary school. An economist would tell you that the cost of your cooking school tuition should be: A. left out of your decision whether or not to go to college, B considered a marginal benefit of changing your mind, C. considered one of the main cost of changing your mind, D. considered an implicit cost of changing your mind.
For each of the following calculate each of the multipliers and determine how a 100 billion dollar increase in government spending would affect total spending in the economy: Determine the spending, tax, and balanced budget policy multiplier. Identif..
Explain briefly the ethical situation. What are the all the different actions you could have taken. What are the consequences of each of these actions.
The country of Alcazar has been growing at an impressive pace for the last five years. With improvements in technology, many industries have recorded remarkable growth in productivity
Discuss the major obstacles to economic growth facing in "Libya" and give your advice as an economist on how to solve these issues.
what percentage of assets do commercial banks hold in loans? what percentage of assets are held in mortgage loans?
When tolls on the Dulles Airport Greenway were increased from $0.50 to $1.50, traffic decreased from 31,000 to 10,000 trips a day. Assuming all changes in quantity were due to the change in price, what is the price elasticity of demand for the Dulles..
The quantity demanded of the resource in each year is given by the equation Qt = 10 - Pt . The marginal cost of extraction is zero.
A cost of living index is introduced in the previous exercise. Suppose the consumer’s direct utility function is u(x1, x2) = √x1 + x2. Let base and final period prices be as in part (a), but now let base utility be u0. Show that the value of the inde..
What is the current macroeconomic situation in the U.S.? What should the Fed do about it? What monetary policy tools should the Fed use to achieve the result(s) you just recommended?
Other factors remaining the same, what would happen to the supply of a particular product if the following changes occur?
Elucidate in writing to what market your derivation brings equilibrium and how it accomplishes this. Illustrate what are the principal differences between flexible and fixed exchange systems.
How many autoimmunity tests per year will have to be performed on the array machine to break even?
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