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Describe the development of Marxist economics from the period after World War II to the present. Identify the main historical events that influenced the development of Marxist political-economic theory.
During a year of operation, a firm collects $175,000 in revenue and spends $80,000 on raw materials, labor expense, utilities, and rent. The owners of the firm have provided $500,000 of their own money to the firm instead of investing the money and e..
Germany is a world leader in many technologies, so is the United States. So why should the United States import snowboards from Germany or China at all
What do you consider to be the biggest current market failure in the U.S. economy? Why? How should the failure be addressed?
Suppose that there are 100,000 people with identical preferences. Each of person rides the train to work at a price of $10 per trip and given the speed of the t
Would a dynamic approach to taxation be more likely to lead to economic growth than the static approach in a country with a falling tax base? What about in a country with a growing tax base?
In the past year, the price of dry-cleaning solvent doubled. More than 4000 dry cleaners across the country disappeared as budget-conscious consumers cut back. This year the price of hangers used by dry cleaners is expected to double. Explain the eff..
Consider the following economic scenario: The first sushi restaurant opens in a city. People are initially cautious about eating sushi, until an influential health report warns consumers against grilled meat and suggest that they increase their consu..
You do not incur any cost to produce goods you sell and thus your profit equals selling price if you make a sell. Or three sellers do not have any costs either.
How is it that higher tax rate can increase tax revenue in some cases, but a higher tax rate can decrease tax revenue in other cases? Relate this to the price elasticity of demand. (Excise Taxes)
Would you prefer to have $100 today or $100 one year from now? Why? How can compounding build wealth over time? How can compounding increase debt over time?
You live in a world with two time periods. Your income is $100 in time period 1 and $150 in period 2. If the interest rate is 0.03 (3%), draw your inter temporal budget constraint. Now suppose current and future consumption are perfect complements yo..
In your opinion, suggest the measures which the Australian government may consider to promote economic growth, stabilise prices and generate employment post COV
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