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After natural disasters, such as hurricanes, some commentators point to 'bright-side'. It is, for example, often pointed out that natural disasters reason GDP for a region to spike upward during the post disaster cleanup. As someone with an understanding of opportunity costs, if you were asked, what would be your economic examine of effects of the natural disaster? Using your knowledge of GDP, describe why GDP might increase during the cleanup. Using your understanding of economic profits, economic losses and opportunity cost, does this mean that the area affected by the natural disaster has experienced economic growth? Determine the seen effects and unseen effects?
When and why were the inflation and unemployment rates negatively correlated? When and why were the inflation and unemployment rates positively correlated?
Production procedures elucidate the law of increasing opportunity costs.
Suppose a product sold in a competitive market is subject to a government price control. Suppose the regulated price is less than the free market equilibrium price.
Elucidate the factors which contribute to the elasticity of goods. Descriobe how these factors influence consumers to purchases goods or services.
Explain why a monopolist will never set a price (and produce the corresponding output) at which the demand is price-inelastic.
Interior Department currently announced that it will increase the entrance fees at Yellowstone National Park in order to increase park revenues.
Assume the government proposes to tax these benefits at the same rate as other types of income. What is the impact of the proposed tax on the optimal retirement age.
In the country A, all wage contracts are indexed to inflation. That is, each month wages are adjusted to reflect increases in cost of living as reflected in changes in price level. Explain answer with aggregate supply and aggregate demand curves.
Explain why is economic growth important also annual growth rate be of great significance over several decades.
If salary in the private organization are set equal to the value of the marginal product, how much will they rise yearly.
Assume the price of every old edition microeonomic book. Determine the values of B and T that maximize Sam's utility.
Illustrate what would you expect will to the price and quantity sold of Toyota sedans, if the price of Kia sedans fall.
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