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Discuss one (1) recent price change of a product (or service) you were in the market to buy. Did you buy the product at the new price (?) and, if so, did the new price alter how much you purchased? Speculate on whether the price change you observed may have been caused byan increaseor a decrease in the product's supplyordemand. Provide a rationale for your response. (Hint: Prices rise when Supply goes down and/or Demand goes up. Prices fall when Supply goes up and/or Demand goes down.)
Economic opportunities arise from nations which develop industries in which they have a comparative advantage.
Using exchange rate data from Reserve Bank of Australia and graphs (monthly data of last three years) analyse the movement of AUD relative to that of the US dollar? Is it in line with the world commodity price movement during this period? Are ther..
A watch manufacture finds that at 1,000 units of output, its marginal costs are below average total costs. If it produces an additional watch, will its average total cost rise, fall, or stay the same.
Discuss the differences between unemployment and underemployment and give examples of each. Include in your contribution the differences between fiscal and monetary policy and how each would be used to reduce high levels of unemployment.
In an effort to estimate the mean amount spent per customer for dinner at an Atlanta restaurant, data were collected for a sample of 42 customers. The data collected resulted in a sample mean of $29. Based upon past studies the population standard..
If a country wants to keep its exchange rate from changing, it must give up some control over its money supply. Is this statement true, false, or uncertain? Explain your answer.
Consider the question of whether the United States should adopt a gold standard, remain in the current float-based system, or use some other system. Consider the impossible trinity mentioned above and carefully define all terms and concepts t..
Explain why marginal product first rises, then declines, and ultimately becomes negative. What bearing does the law of diminishing returns have on short-run costs? Be specific.
suppose the price of housing increases to 3 but the price of food stays at 10.rewrite janes budget constraint and draw
Suppose in country Triniland employers are required to pay overtime at 50% above the normal wage rate for workers who work beyond 8 hours a day.
Illustrate what is the practice by a monopolist of charging each buyer the highest price.
Evaluate the following policies in terms of their effect on "the greatest happiness the greatest number." (Think about market failures and failures of markets: how do the policies suggested correct problems with the functioning of the market
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