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The concept of GDP is used by policy makers for many purposes that include keeping track of the growth of our economy and forecasting a recession; but it is also abused by some. Discuss some of the applications of GDP which may be considered improper use or abuse of the concept.
Describe a specific tariff, an ad valorem tariff, and a compound tariff. What are the advantages and disadvantages of each?
In general, if the Fed increases the supply of money by 5%, which of the following statements can we claim to be true with certainty?
What are the opportunity costs of reducing expenditures such as education and social services compared to raising taxes? Why? Explain what the rational choices are in that situation and what other options should be considered.
How do you use the cost minimization factor come up with $16 for the price of land for the below question: You run a small farm. You employ workers, you rent land and you rent capital in order to grow the produce. If marginal product per dollar of ca..
Discribe the difference in economic profit between a competitive firm and a monopolist in both athe short and long run. Which should take longer to reach the long-run equilibrium?
Illustrate what output does the low point of ATC occur and illustrate what is the ATC at that output. Explain how your calculations.
The prime minister of your chosen country feels that local infant industries must be protected through the use of trade restrictions. She believes that your product is part of an industry in which companies within her country should be given an advan..
The U.S. Tax Code is 12,000 pages long. Do you think we need that many pages to collect revenue for Uncle Sam? Do you think that you should need an expert to figure how much you owe in taxes? The folks in Washington who write the tax laws have to hir..
An analyst knows with certainty that Skipper Inc. will exist for two years and have the following cash flows per share: What is the stock price of Skipper Inc., if the opportunity cost of capital is 8 percent?
Are the salaries received by professional sports athletes outrageously high? Should the CEO's of financial institutions receive more monetary compensations than entertainers, since their jobs contribute more to the development of the country? What ar..
Which of the following will never be negative in economic theory?
Describe what you learned about change management; include your personal perspective on your learning of the concepts on change management as explored through the modules of this course.
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