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Questions
1. What did Frederic Bastiat say was the one difference between a good economist and a bad economist?
2. What is the single most important lesson in economics?
3. What do economists mean when they talk about "Guns & Butter?"
4. How does scarcity apply to you?
5. How does scarcity apply to government policies?
6. What does Economist Thomas Sowell say is the first rule of economics and politics?
7. What are the factors of production in economics?
8. Why is economics so important?
9. What is the difference between macro and micro economics?
10. What is the "widgit" for this episode?
First, we hear of the shock and horror stemming from all the damage and devastation. Then we begin to hear that at least it's good for the economy
In today's market, Ford and Chevrolet produce small cars that are designed to compete with Korean made small cars. The American cars are slightly larger and slightly more expensive.
What social problem is the policy attempting to address? What population is most affected by the policy and why? What is the overall goal of the policy?
Near new car is expected to earn an economic profit of $20,000 each year for the next years. the discount rate is 10 percent. Assume profits are received at the end of the year.
If the price of MARTA tokens increases from $1.50 to $2.50, the number of student parking spaces demanded changes from 975 to 1025.
A monopolist encounters the following demand curve: P=120-0.02Q-What is the level of production, price and total profits per week?
1. the summer beach house rental season is june through early september what will happen to the price and quantity of
In an article about the financial problems of USA Today, Newsweek, reported that the paper was losing about $20 million a year.
MM305 Project- Even though independent gasoline stations have been having a difficult time, Susan Solomon has been thinking about starting her own independent gas station. What is the criterion of realism decision? Use α = 0.4. Develop an Opportuni..
TermCreate an eight- to ten-slide presentation about the uses and limitations of product labeling for public safety. You can use the information from your textbook, as well as information from other reliable sources (Note that unmonitored websites..
The table also reports information on 10 year TIPS rate from 2003-2014 Link. Calculate the average level of the TIPS yield from the period prior to the Global Financial Crisis (2003-2008) with the average from the pre-crisis period. Can the declin..
Discuss the conditions that characterize pure competition (a price taker market) and explain how and why price takers maximize profits at the quantity for which marginal cost, price, and marginal revenue are equal.
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