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Social Security benefits are increased each year in proportion to the increase in CPI, even though most economists believe that the CPI overstates actual inflation.
If the elderly consume the same market basket as other people, does Social Security provide the elderly with an improvement in their standard of living each year? Explain.
You have been put in charge of electricity restructuring on the Isle of Mann. As part of the restructuring plan, it has been suggested to you that all wholesale electricity should be sold on the spot market at a price that is set every single min..
Consider the following graph of a monopolistically competitive firm selling DVDs. A. How many DVDs should be sold to rent per day to maximize profit. B. What is the economic profit for this firm operating where economic profit is maximized.
In the chapter we mention how prices can vary in a tourist trap. Which market, St. Louis or Chicago, was more likely to behave like a tourist trap? Explain.
Discuss how the actions of the Federal Reserve, specifically an increase or decrease in money supply, affect the other variables represented in the IS/LM model.
Explain what is meant by diminishing returns. From these costs curves explain when diminishing return sets in? Why and explain the relationship between ATC, AVC and AFC.
What is meant by the reservation wage What factors determine the reservation wage for an individual How does the concept of the reservation wage help to explain the pattern of labour force participation within a two-partner household
What is the gross demand for consumption by a ICIW tribe member for pineapples in period 1? In period 2? For a GHN tribe member in period 1? In period 2?
1. Why might federal spending on roads, waterways, or national security be less subject to direct expenditure off sets than spending on health care or education 2.What might account for the fact that estimates of effect time lags for fiscal p..
Explain carefully in terms of production theory why it might be that no amount of "cracking down" can increase worker productivity at CF&D.
Discuss how does the existence of money decrease the expenses of making transactions, relative to a society based entirely on barter?
suppose a women marries her butler. after they are married, her husband continues to wait on her as before, and she conitues to support him as before ( but as husband rather than as an employee). how does the marriage affect GDP
Discuss how is it possible to change society, for Marx, through using relationship between economy on the one hand and the political environment on the other.
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