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1. Suppose industry abatement costs rise from $850 million in 2004 to $1,000 million in 2005 in nominal terms and that the CPI is 100 in 2004 and 106 in 2005.a. Evaluate the change in costs over the period in real terms, first in 2004 dollars and them in 2005 dollars.b. Are your answers the same? Explain why or why not.
Which nation has a comparative advantage in clothing and by what amount.
Research the elasticity of beef and eggs in regards to price changes. Explain how do supply, demand, and price controls interact to affect equilibrium price of eggs
the knowledge you have collected in this course on monetary and fiscal policy actions, critically describe the transmission process.
Use a production possibility frontier to illustrate the probable results of your fiscal policy. By how much did consumption change? By how much did savings change?
Marketing research shows that the price elasticity demand coefficient for the widgets
Imagine the opera has a capacity of 3000 seats and that all costs are fixed. If they can discriminate between the two groups, what is optimal price to charge to each group and how many tickets will each group buy?
The following is a list of figures for a given year in billions of dollars. Calculate the GDP and NI.
Explain how the aggregate expenditure function shifts in response to changes in each of the following variables:
Assume you want to begin a business in an area in which a natural disaster has recently occurred. How would you decide which kind of business to start.
Compute total revenue at each and every price for this demand curve.
In the following list a number of well-known companies and the products that they sell. Which of the four types of markets (perfect competition, monopoly, monopolistic competition, and oligopoly)
Assume government imposed a minimum wage above what otherwise would be the equilibrium wage rate for this segment.
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