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Basic rules of supply and demand
Explain why increases in the price of a labor-intensive good lead to proportionally greater increases in the wage rate in a labor intensive country.
Suppose the issues of where, when, and elucidate how to be considered by an organisation planning an international entry strategy.
Elucidate the difference between GDP and GNP. What adjustments needs to be made to GDP to arrive at GNP.
B3 Oraganization is a manufacturing firm that uses job order costing. The company applies overhead to jobs using a predetermined overhead rate based on machine-hours.
Elucidate how an attempt by the government to lower inflation could cause unemployment.
Show that the government can achieve the social optimum by setting the correct tax prices a, b, and c. What prices should it set?
Provide an example of how fiscal also monetary policies compliment or work against each other.
A firm uses two inputs, unskilled labor (L) and capital (K) to produce its product. The wage rate for one unit of labor is $5, while units of capital cost $20.
GDP only raise by three quarters of the expected amount. Illustrate what factors might be responsible for this situation.
A nation has a lower inflation rate than all growth. What can be said about each of the following.
Explain how would you hope the subsiquent events to affect the price you receive for a bottle of wine.
Compute the point price elasticity of demand for bearing grease.
If the price of manufactured goods rises to $6 bushel (a rise of 50%), the parity price of corn as well rises by 50% - to $4.50 in this hypothetical example.
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