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Define the opportunity cost of getting your college degree by analyzing what steps and economic factors a potential student must make when choosing to pursue an education including the value of current versus future earnings once you apply this formal training. Given your answer, is getting a formal college education worth your opportunity costs? Why?
Between 2007 and 2009 the U.S. economy experienced a severe recession. In an effort to stimulate the economy, the federal government passed a stimulus package. Explain the federal government’s use of fiscal policy (the stimulus) to promote growth and..
Bill faces a wage of $10 per hour (W = $10/hr) and is trying to decide how to best allocate his daily 24 hours between work (which he does not like) and leisure ( which he thoroughly enjoys). Please construct Bill’s daily budget line with total incom..
Joe and Jim purchase vegetables at a grocery store, but Jim also grows vegetables in his back yard. Only Joe’s grocery store purchases are included in GDP. Only Joe’s and Jim’s grocery store purchases are included in GDP.
The U.S. government pays an economist at the U.S. Department of Commerce $50,000 in salary in 2006. The economist then retires. In 2007, the government pays him $30,000 in retirement benefits. The 2006 payment is included in 2006 GDP as government pu..
If hospitals begin to affiliate within regions, would you expect that %u201Cunnecessary duplication of facilities%u201D would increase, decrease or stay the same?
You are the manager of a local sporting goods store and recently purchased a shipment of 60 sets of skis and ski bindings at a total cost
Suppose the reserve requirement is 15%. What is the effect on total checkable deposits in the economy if bank reserves increase by $60 billion?
In a local hardware store the price of the store brand indoor house paint is $18 per gallon. The daily volume of sales is 30 gallons. The price elasticity of demand for the paint is estimated to be -3. Determine the demand equation for the paint assu..
Define entrepreneurs and describe the entrepreneurial characteristics/competencies portrayed by the character Carl Casper in the movie. In your opinion, what factors lead the main character, Carl Casper, to start his food truck business? Discuss the ..
A glass factory sold $1,000,000 of glass to an automobile factory. An automobile factory sold $10,000,000 in automobiles to final consumers. Given these events, calculate the GDP of Autoland using a. the final goods approach. b. the value-add..
What is the relationship between an economy’s production possibilities curve and its long-run aggregate supply curve? Check all that apply.
B would cost $1.5 and save $$400K pa. C would cost $2.1M and save $500K pa. For each of the alternatives. Construct a Choice Table based on the chosen MARR.
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