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Describe the difference(s) between extrinsic and intrinsic outcomes. Referring to Table 6-2 in the text, which of the outcomes are most appealing to you? How do you think your preferences will change as you get older?
Explain the logic of the Ricardian view of government debt and evaluating its practical relevance.
Consider the market for baby cribs. The market for baby cribs is given by Qd = 140 - 0.2p and the market supply of baby cribs is given by Qs = 0.2p - 20, where Qd is the quantity of baby cribs demanded in millions, Qs is the quantity of baby cribs su..
What is likely to happen to the supply of any good when a price ceiling is imposed?
Given the technology and the amount of other resources available, the position of the demand for labor depends on the
What can be said about the benefits and problems of each dimension (economic, cultural, political and environmental) of globalization? Is globalization a positive force overall? Why or why not?
The owner's of a small manufacturing concern have hired a manager to run the company with the expectation that he will buy the company after 5 years. Does this contract align the incentives of the new vice president with the profitability goals of th..
Suppose the current equilibrium price of a quarter-pound hamburger is $5 and 10 million quarter-pound hamburgers are sold per month. After the federal government imposes a tax of $.50 per hamburger, the equilibrium price of hamburgers rises to $5.20 ..
Demand for a good is a measure of the relationship between
1. Note that the current and capital accounts in the U.S. Balance of payments (BOP) are mostly private transactions while the official settlements balance involves transactions between governments
Describe the growth of the economic role of the federal government since the 1930s. Give two examples of public goods or services that you use. If you could order a cut of $100 billion in federal spending, which programs would you cut and why would y..
The following equation represents the weekly demand that a local theater faces. Determine the profit maximizing ticket price for the theater. What is the price elasticity of its demand at this price? What is the elasticity of its demand with respect..
Why would a firm in a perfectly competitive market always choose to set its price equal to the current market price? If a firm set its price below the current market price, what effect would this have on the market? Discuss.
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