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The US current-account deficit grew rapidly from 1980 to 2005. Then it stopped growing from 2005 to 2017. What is/are the possible reason(s)?
Limit your answer to one page.
Suppose that market price of diesel fuel falls from $5 to $3 per gallon and afterwards weekly quantity demanded for gas decreases from 18 to 16 gallons per week. Calculate cross-price elasticity of demand for gas and interpret the result.
What price and quantity of computers should MichiganSux produce to maximize profits? What long-run adjustments should be anticipated? Explain?
There are not enough of four goods to satisfy the wants of people. For good A, this is true when the price is $100. This is true for good B at a price of $10, for good C at a price of $1, and for good D at a price of zero. Which situation reflects sc..
Suppose Debbie has a 5 percent discount rate between periods. Which career will she pursue? What if she had a 15 percent discount rate?
Illustrate what are equations for IS and LM curves. Illustrate What is equilibrium level of income and interest rate.
Which of the following is a TRUE statement about monopoly and perfect competition? Compared to perfectly competitive firms, the demand curve for a monopolist will be.
What does the elasticity of demand for labor measure? List and describe the three determinants of this type of elasticity.
Esteez Construction Company has an overhead crane that has an estimated remaining life of 7 years. The crane can be sold for $14,000. If the crane is kept in service it must be overhauled immediately at a cost of $6,000. Operating and maintenance cos..
A monopolist practicing third degree price discrimination sells its product in Florida for three times the price it sells in New York. Price elasticity of demand in New York is -2, what is the price elasticity in Florida?
What are the main characteristics of the market system? How does the market system answer the five fundamental questions?
Why is this the case and how does it relate to the marginal product of labor (MPL) in each sector and the production possibilities frontier (PPF)?
Calculate cost elasticity of demand for paint and show your calculations. Decide where demand for paint is elastic, unitary elastic, or inelastic.
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