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"People in business get ahead by exploiting the needs of their consumers. The gains of business are at the expense of suffering imposed on their customers." Evaluate this statement.
Which of the following is one of the most important causes for the recent increase in income inequality in China? Which of the following would be part of the Thai demand for U.S. dollars? The World Bank tracked the performance of countries that had u..
Enlighten the budgetary challenges state governments would face if the economy were to go into a recession also the unemployment rate were to increase.
Consider again The Experience Machine from Week 2. Would you get in the machine? Carefully explain why or why not. Utilitarianism is a deceptively simple moral theory that has quite a bit of intuitive appeal. But it also has its share of problems. H..
The Interior Department recently announced that it will increase the entrance fees at Yellowstone National Park in order to increase park revenues. The Interior Department must believe that:
An economy produces only agricultural products (x) and manufactured goods (y). A quarter of the land in the country is arid and not suitable for agricultural products. Therefore, if half of the arid land is not used at all:
Assume that a country is growing at 5% per year. Now the saving rate decreases leadingto a new lower growth rate of 3.3% per year. How will the change in standard of living over time be impacted by this change in the saving rate and therefore the gro..
Suppose that the Canadian economy, on a fixed exchange rate, has a real growth rate of 2% and is in equilibrium with an inflation rate of 10% and risk premium of 1%. Suppose that changes in the US cause its real rate of interest to increase from 3% t..
For the sake of simplicity, suppose 89 octane is the only grade of gasoline and it currently sells for $2.89/gallon. Suppose the federal government imposes an excise tax on gasoline of $10/gallon. How should this affect the supply and demand curves f..
Pharmaceutical Benefits Managers or PBM's are intermediaries between upstream drug manufacturers and downstream insurance companies. They design formularies (list of drugs that insurance will cover) and negotiate prices with drug companies.
Suppose you just returned to Albuquerque from a trip to the United Kingdom. You were really impressed with the rail system but it seemed to be much more expensive than the Rail Runner. What is the real difference in the cost of the Rail Runner in the..
Suppose the wage is 100 per hour and that the consumer has 100 hours H to work with. Suppose that the MRS is given by c/l. What will the consumer’s choices of c and l be. Repeat with an upper bound of 10 hours. Repeat both parts with a ten percent fl..
Business equipment was purchased for $100,000. It's depreciated using MACRS, half-year convention, 7-year life property. At the end of year 5 what is its tax basis? $77,690. $100,000. $0. $22,310.
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