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Consider some purchases you've made lately. Were the prices high but you purchased anyway or were the prices reasonable and you didn't have to think about it much. Give an example of each type of purchase and describe your elasticity of demand for the item. Explain why your demand may be elastic or inelastic.
q1. compare and contrast the way classical and keynesian theory determine the demand for money and how it is related to
What monetary policies and fiscal policies were implemented during the recession from 2007 through 2009?
What is the percent value of the bond in the absence of inflation if the market interest rate is 8%? (b) What would happen to the value of the bond if the inflation rate over the next five years is expected to be 3%?
Wal-Mart is a giant among retail outlets and accounts for major fractions of toy, grocery, and clothing sales in the U.S. and Canada. Wal-Mart's success is partly due to increases in productivity through many innovations in their operation. Now on an..
Draw Bob's budget constraint (put skinny ties on the horizontal axis). Bob’s preferences lead him to choose a combination of 4 DVDs and 30 skinny ties. Draw the indifference curve that leads him to this choice. What is his marginal rate of substituti..
An accommodating policy response to a supply shock
In a globalized workplace, many companies actively seek to move their base of operations and manufacturing plants to cities and countries with a low-cost labor force. What steps, if any, can workers take, either within a union or outside of a union, ..
Chris has $100 to spend this month on movies and/or books. A movie costs $10 and a book costs $20. Draw Chris’s budget constraint (or budget line), with the number of movies purchased on the vertical axis. What is the opportunity cost of the second b..
Which of the following explains that the production of a good moves from invention through the protection of production methods to standardization and that the country that nationally exports the good likely becomes the importing country.
The production function at Jerry’s Copy Shop is q = 1000 x min(L, 3K), where q is the number of copies per hour, L is the number of workers, and K is the number of copy machines. Draw the average product of labor (APL) curve for this production funct..
The value of marginal product of labor curve. As the price of land rises, the quantity supplied. The value to a firm of hiring another worker is the worker's value of marginal product. The value of marginal product equals the price of the good produc..
Explain how that factor can cause productivity figures to be misleading. Is there another way to compare the two plants that would be more meaningful?
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