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Question 1
a. Draw and explain a production possibilities frontier for an economy that produces cheese and milk. What happens to this frontier if a disease kills half of the economy's cows?
b. Use a production possibilities frontier to describe the idea of "efficiency."
Question 2
Is the data you observed provide evidence for downward sloping demand? Why? Calculate price elasticity of demand.
Explicit costs and implicit costs,economic profit and accounting profit, and
In this larger geographic market, the firm's market share is low. Therefore, the defense claims, the firm does not have the market power necessary to carry out anticompetitive practices or to make them worthwhile.Offer a critique of the firm's arg..
You believe the yen will increase in value by 4% against the dollar in one year. If you think the spot exchange rate in one year will be 120 yen to the dollar, what must the spot rate be right now?
How might inequality lead to faster growth or development? How might it lead to slower growth or development? Is progress being made in the fight against poverty? Why or why not? What types of poverty policies have proved effective?
What is a monopoly? What barriers to entry typically create the conditions favorable to monopolies? Give an example of a monopoly firm and the barriers to entry protecting its monopoly.
The perticular information needed to calculate each metric should be discussed. For each metric discuss the appropriate target value and the actions that need to be taken to achieve the target.
The marginal external expenses associated with air pollution increases with the yearly output of a polluting industry.
According to Okun's law as it applies to Australia, when cyclical unemployment increases from 2 to 3 %, the contractionary gap increases from ___ %, measured in relation to potential output:
(a) COMPOSE formula that his DJT's demand for money as a function of the two interest rates.
In this question, we will expand our simple Solow model to reflect how labor influences the production process. Now:
In recent years, consumption spending by households has accounted for about 70% of the total spending (aggregate demand) in the U.S. economy.
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