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Q. Education Economics
Please discuss the role "scarcity" played in your pursuit of a college degree. Did you engage in what economics calls "rational behavior" and how does your choice reflect "self- interest"?
Please discuss the idea of trade-offs (cost and benefit analysis) when answering the above question.
All firms in a Cournot monopolistically competitive industry have the same cost function C(q) = 25 +10q. Calculate the equilibrium price, firm output, total output and number of firms in the industry.
Calculate the expected level of demand in a typical market. Indicate the range within which actual demand is expected to fall with 95% confidence.
Assume an economy in which the reserve ratio is 15 percent, people hold 10 percent of their deposits in the form of cash, and there are no other leakages.
Find the optimal level of inputs L* and K* that minimize the cost of producing Q0. What is the cost of production associated to L* and K*?
Compare and contrast the strengths and weaknesses of today's Federal Reserve operating procedures and monetary decision making policy.
Illustrate what has been, also what will be, the short run and long run impact of the Federal fiscal policy which has been followed in the past few years.
Consumption accounts for about 60% of GDP, while investments accounts for about 20% for GDP. But many economists think that, to understand economic recession, it is more significant to look at investment than consumption. Why?
Use aggregate demand (AD) and aggregate supply (AS) model in which the short run aggregate supply curve slopes upwards to describe the equilibrium level of real GDP and prices if the economy is operating:
In 1971, Congress conducted headings on emergency loan guarantee legislation for Lockheed Corporation, which was in the middle of a severe liquidity crisis due to losses on a number of military contracts.
In the 1970s people had become accustomed to high inflation. In 1979, Bank of Canada decided to fight inflation and decreased the money supply growth rates.
Some politicians in countries that are the recipients of large numbers of immigrants advocate adopting laws requiring immigrants to learn the local language within a specified period of time.
Provide brief but theoretically sound explanation for each of the following.
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