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1) Before economic growth, there were too few goods, after growth, there is too little time.
2) It is irrational for an individual to take the time to be completely rational in economic decision making.
3) Telling Satnt what you want for Christmas makes sense in terms of utility maximization.
Suppose that on January 1, the price of one hundred yen was $0.80 and PPP held. Over the year, the Japanese inflation rate was 5 percent and the U.S. inflation rate was 10 percent.
What can you provide as advice to a manager concerning their choice on the quantity of labor and quantity of capital.
If none of the high-cost firms makes a positive profit, how large is n. Elucidate how much profit do the low-cost firms make.
Increasing the minimum wage will result in a decrease in employment for workers who now earn less than the new minimum wage.
Illustrate what is the tax burden on consumers also producers. Illustrate what is the deadweight loss.
Assumes that wheat producers lobby the government for a price floor also receive one.
What do you think that Apple's ability to control the pricing of downloaded song is likely to change in the future.
Does the coffee marketplace meet all six conditions of a perfectly competitive marketplace.
Suppose a nation picks 1000 young adults at random to serve in the army. Illustrate what information do you need to determine the cost of using these people in the Army.
Explain why is the usa called a democratic federal republic and how is our organization of government different than the canadian, israeli, japanese or french democracies.
which of the 3 determinants of macro performance (internal market forces, external shocks, and policy levers) would you consider the most important in terms of gauging the success/failure.
In order to just break even, Elucidate how much will the company have to charge for every set.
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