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America is stratified into levels describing individuals’ socioeconomic status: upper class, middle class, working class, and the poor. Describe characteristics of each class and, when appropriate, the sub-classes.
What is the own price elasticity of demand when price is $100? Is demand elastic or inelastic at this price? What would happen to the firm’s revenue if it decided to charge a price above $100? What price should you charge in order to maximize the fir..
Using an aggregate supply/aggregate demand model illustrate and explain the short run effects of decreasing government spending (assuming you began in a short run and long run equilibrium).
A flat tax plan allows individuals to deduct a standard allowance of $10,000 from their wages. Assume that the flat tax rate is 12%. Calculate the amount of income tax and the average tax rate if you were earning: $30,000 a year $60,000 a year
Do you think governments should step in and help an economy move to potential or are "markets" capable of fixing themselves? Carefully consider the impact of falling prices.
Describe some of the changes in the "what, how, and for whom" to produce for questions that would occur if Boeing manufactured all its components to make its Dreamliner at its own factories in the United States.
A fleet manager must choose between two trucks to purchase for a company's fleet. The company will keep either truck for 4 years. Truck A costs $29,000 and has a market value of $16,000 after 4 years. Truck B costs $33,000 and has a market value of $..
Suppose tariffs of $2 were imposed. Calculate the effect on producer surplus, consumer surplus, government revenue and the deadweight loss.
An emissions fee is paid to the government, whereas an injurer, who issued and held liable, pays damages directly to the party harmed by an externality. What differences in the behavior of the victims might you expect to arise under these two arr..
A basic theory of underlying macroeconomic behavior and therefore useful for making policy predictions. Briefly explain.
Zach is trying to figure out the price he should pay for a Corporate Bond with a $10,000 face value. His minimum acceptable return is 10% per year, compounded semi-annually. Sally, the company representative wants him to pay $8,500 for the bond and i..
______ signals that a downturn is coming, and is a condition to be expected at the peak of the business cycle.
Multi part question what strategy was developed by Henry Ford to compete in car industry and in what ways did changes in the competitive environment of car industry affect GM strategy in 1980s?
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