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Using diagrams applicable, discuss the Coriolis Effect and how it affects air circulation in the low (cyclone) and high (anticyclone) pressure systems on Earth.
Assume a two-country world containing country A (whose currency is the dollar) and country B (whose currency is the peso). In this context, and using relevant graphs, explain how a depreciation of the dollar against the peso (for example, a 10% depre..
q. suppose that market demand for golf balls is described by q 90 - 3p where q is measured in kilos of balls. there
Suppose that the supply curve for gold is very steep (positively sloped, but almost vertical). Would a $ T tax tend to have a relatively large or a relatively small effect upon the quantity exchanged in the market? Would there tend to be a relative..
Suppose that an economy’s production function is cobb-douglass with CRS(Y=AK^α * L^1-α ) and α=.3. What fractions of income do capital and labor receive? Suppose that the capital stock decreases by 15 percent. How much does output increase or decreas..
Julia prepares tax returns and does bookkeeping. Last year her revenues from the tax and bookkeeping business were $150,000, and her expenses for the business were $15,000. When she started her tax and bookkeeping business, Julia gave up her suppleme..
Robert Heilbroner argues that economics has lost its way because economists have become preoccupied with economics as science rather than seeing economics as the study of capitalism. Explain what he means by this. Should one agree or disagree? Provid..
In this assignment, you will identify a problem and work through the seven-step decision-making process. Click to review the Decision Making Points to Remember
Distinguish between liberal economics and conservative economics. Why is macroeconomics an inherently political subject? Summarize the problems that can be created by rapid inflation. How can inflation become self-perpetuating?
Find the SPNE of this game. Is there an outcome of the game that both parties prefer to any SPNE? Also find a NE for which the outcome differs from any SPNE outcome.
The GDP deflator is a good cost of living index. GDP is more volatile in the short-run than the long-run. All government spending is in GDP. If GDP is adjusted for purchasing power, the US usually improves its relative position.
A firm operates in the short run with the production function q = 2L0.5 and faces the demand schedule p = 60 - 4q where p is price in pounds.
In perform Russia and perform China: In a free market, the price system determines how society's output will be distributed by:
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