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Desscribe some of the trade-offs faced by each of the following: a) a family deciding whether to buy a new car. b) a member of congress deciding how much to spend on national parks. c) a company president deciding whether to open a new factory, D) a professor deciding how much to prepare for class. E) a recent college graduate deciding whether to go to graduate school
Explain the various major reasons why the quantity of education in a country would likely be less than the efficient amount in the absence of any government intervention. Include a carefully labeled and well-explained supply-demand diagram that sh..
If the price of coffee came down to overshoot former equilibrium pricing but another type of coffee begins to do extremely well what has happened to the price elasticity and equilibrium
Analyze the proposals for reform in the current K-12 system and determine which single proposal would be the most likely to succeed. Explain your rationale. evaluate the effectiveness of No Child Left Behind.
Does farming in the United States have the characteristics of perfect competition How does perfect competition in the farming industry help farmers and consumers? Hurt farmers and consumers
Goods and services not purchased in markets, such as food produced and consumed at home, are usually not included in GDP. How might this impact our measure of economic well being Should we try and include these types of good when measuring GDP
What is absolute advantage What is comparative advantage Is itpossible for a country to have a comparative advantage in producinga good without also having an absolute advantage
Identify and discuss the tests used to determine whether a law complies with the equal protection clause What is discovery and what are the methods to obtain this information How does each method work
What is the probability that the employer will hire a high skilled worker?
allows foreign customers to purchase them by mail for price v2 where v1, v2 are the domestic and foreign reservation prices The problem is that frequent travelers are tempted to purchase the CD players domestically, then sell them overseas. Assume..
For each of the following transactions, identify whether or not it would be included in GDP: What is Metrica's GNP? Is it higher or lower than its GDP?
Curly's Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $33,000 per year forever.
Social Security benefits are increased each year in proportion to the increase in CPI, even though most economists believe that the CPI overstates actual inflation. If the elderly consume the same market basket as other people.
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