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Discuss the factors that determine the marginal cost of reducing crime. Discuss the factors that determine the marginal benefit of reducing crime. Would it be economically efficient to reduce the amount of crime to zero? Briefly explain.
Describe the benefits and costs of such a sweeping trade agreement. Consider the various countries involved (you do not have to look at all of them!) and what it means for first and third world nations to join in such an agreement.
Difference among the resource market and the producer market in a circular flow model. In what way are businesses and households both sellers and buyers in this model.
a nation to have commercial relations with other countries
Discuss the concept of 'instruments and targets' in macroeconomic policy and assess how this concept might be applied to the current policy framework in Australia.
Elucidate whether each of the subsiquent would make fiscal policy more effective or less effective
Suppose a production function is given by f(K;L) = KL 2 What combination of labour and capital minimizes the cost of producing any given output?
Find the proportions of consumption spending and investment spending in US GDP. What proportion of US GDP is comprised of wages. The information can be found at the BEA website.
As the economy begins to recover from a recession and more people go back to work.
The more the competition among the sellers, the less the producer surplus enjoyed by the producers do you agree with the statement.
Daniel is a diligent student who loves getting A's. But he also loves watching movies. Daniel is awake for 100 hours each week, and studying and watching movies are his only two activities. Daniel must study for 20 hours per week for each A he ear..
Will sales of whiskey increase or decrease also by what percentage amount.
Explain how an AS shock such as a sudden increase in oil prices would affect the economy first in the short run and then in the long run. Assume that the United States is initially operating at its full-employment level of output.
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