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1. Suppose that you have saved $100. You can spend it today or you can put it in your savings account for a year and earn 5% interest. What is the opportunity cost of spending the money today?
2. What is the difference between capital goods and consumer goods?
3. What is the opportunity cost of producing a capital good such a new road?
4. In economic terminology, what is the meaning of investment?
5. How does an individual know whether or not an investment in education is worthwhile?
6. Define opportunity cost. Given the definition of opportunity cost, explain what is meant by the statement "There is not such thing as a free lunch."
Define the US Bureau of Labor Statistics official unemployment rate and briefly explain major shortcomings of the official unemployment rate.
Between October 2004 and 2005, real GDP in the United States increased by 3.6 percent, while nonfarm payroll jobs increased by only 1.4 percent. How is it possible for output to increase without a proportional increase
The advent of the one man bus involved more capital equipment: an automatically operated coin box and door control device - to name two of the capital goods that replaced the conductor."
If the marginal cost is $10 per unit, what is the firm's monopoly-optimal price?
Provide the cyclical nature of government tax revenues and spending, how would the resulting budget deficit or surplus vary over the business cycle.
felicity is studying economics and political science. she can read 30 pages of political science per hour but only 5
According to the description of fixed investment, how would you expect a firm's investment decisions to be affected by asudden increase in demand for its products What factors would determine the speed of itsreaction
Thirsty Ed drinks only pure spring water, but he can purchase it in two different-sized .75 liter (good x1) and 2 liter (good x2) containers. Because the water itself is identical, he regards these two goods as perfect substitutes and his
onsumption expenditures. bignore inventories because they do not represent final goods. csubtract increases in
a. derive the is relation.b. derive the lm relation.c. solve for equilibrium real output.d. solve for the equilibrium
Suppose that permanent income is find outd as the average of income over the past five years; that is Yp=(Y1+Y2+Y3+Y4+Y5)/5. Suppose further that consumption is given by C=0.9YP.
Define Market and Market Equilibrium? a. By using the demand and supply equations given below, prepare schedule and draw demand and supply curves?
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