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What happens if wages and prices adjust very slowly in response to various shocks to the economy? Does this make business cycle, i.e. expansions and contractions in the economy, shorter or longer?
Suppose ABC Company is considering bidding on a given contract. It will cost $2,000 to prepare the bid. If the bid is lost, the $2,000 cost is also lost. If ABC Company wins the bid, it will make $40,000 and recover the $2,000 bid preparation cost..
The U.S. government bought 112,000 acres of land in southeastern Colorado in 1968 for $17,500,000. The cost of using this land today exclusively for the reintroduction of the black-tailed prairie dog is zero, because they already own the land. is zer..
Your utility function is U = ln(2C) where C is the amount of consumption you have in any given period. Your income is $40,000 per year and you have no savings. There is a 2% chance that you will be involved in a catastrophic accident that will cost y..
Suppose a Mexican immigrant to the US could earn $20,000 in the US and $4000 if she stayed home in Mexico. Also assume that she will live and work forever, and that her discount rate is 8%. If she does not migrate, what is the lowest possible implied..
The Clean Air Act and its amendments increase the production costs of the firms in a covered industry through increased:
The Riparian use doctrine. The “beneficial use” of water principle.
Calculate the elasticity for each variable at that point and briefly comment on what information this gives you for each variable.
A state in the southeastern region of the United States operates state liquor stores. Prices at the stores are set in the following fashion: add 41% to the wholesale price at which the system acquires the product. To that is added an excise of $8.10 ..
What is the first-year cost recovery deduction using the straight-line method?
Two U.S. adults are selected at random from the population of all U.S. adults without replacement. Assuming the sample is representative of all U.S.? adults
Provide examples how might globalization and advances in information technology affect the trade-offs between technical and agency efficiency?
More and more consumers have begun watching their favorite network television programs on their computers. Suppose that initially this service is provided at no charge. Use the infinite line tool to draw the demand curve (Demand) for downloadable tel..
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