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Analyze the characteristics that make any transaction possible and justify the importance of each of the characteristics.
Evaluate the role institutions play in transactions and discuss the likely economic impact if institutions did not exist. Provide specific examples to support your response.
Suppose the slope of the consumption function is 0.75 and there was an increase in income of $100. Calculate the increase in consumption.
Explain how does the Heckscher-Ohlin theory differ from Ricardian theory in explaining international trade patterns.
In a closed economy, marginal propensity to consume .6. If the economy opens up to world and marginal propensity to import is .4, using the Keynesian model of output determination;
Which nation has the absolute advantage in the production of tanks. Why is it this country.
At which point do you reach equilibrium. Also explain why is that considered equilibrium.
Suppose that yi receives $ 60 per day as interest on inheritance and her wage is $25 per hour, and she can work a maximum of 16 hours per day at her job. draw her daily budget constraint.
What is the firm's cost function when the cost of pollution certificates is included? What is the firm's marginal cost function when the cost of pollution certificates is included? Derive the firm's supply function.
Create a graph that shows Price on the Y-axis and Q demanded and Q Demanded and Q supplied on the X-axis.
"Most of the firms spend considerable amounts of money on advertisement". Explain advertising elasticity of demand and its practical applications in this context.
Describe in breif its potentials and limitations for reducing poverty and spurring grassroots development in LDC.
Illustrate what price should the theater charge for a ticket if it wants to maximize profit. how big will its profit be. What price would you like to charge.
Illustrate what are two reasons economists support free trade. Can you list what three of those assumptions likely.
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