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A) State and explain 5 factors that affect a consumer's demand schedule.
B) A consumer, D Carroll, spends all of his income on 2 goods X and Y. The 2 goods are both normal but are not complementary. The price of good X is reduced but the price of good Y is unchanged. The consumer continues to spend all of his income on the 2 goods. Distinguish between the Substitution Effect and the Income Effect of the price reduction in good X.
C) Explain 3 assumptions concerning consumer behaviour.
Suppose your telephone plan charges you $25 per month plus ten cents per minute for long distance calls. Write an equation that describes your monthly telephone account.
Find an article from the media (internet, newspapers, magazines, etc.) on a current event that addresses an economic concept (e.g., consumption, saving, investment, real GDP, marginal propensity to consume, income multiplier, etc.). Write a one t..
A new taco-making machinery which is similar in size and cost to hog dog carts has encouraged more street vendors to begin selling tacos.
The question asked that assume that the aggregate demand curve.
Elucidate what is your interpretation as to whether or not capital gains taxes should be raised or lowered.
Explain an organization's staffing practices and selection tools in response to two of following trends:
Illustrate what are the most important concepts you can learn in Economic Theory classes. How can you apply them to your life. What difference can these concepts make in your everyday life.
Mr. Capon is a butcher who recently increased price of steak at his market from $1:50 pound to $2 a pound. Correspondingly his sales dropped from 200 pounds a day to 100 pounds a day.
What fixed amount of money should the company plan to set aside each year, at 8% interest per year, compounded annually, in order to make the above payments? Ans: $4,427.82.
Suppose the simple spending multiplier equals 10. Estimate the size and direction of any shifts in the aggregate expenditure line, the level of real GDP demanded,
Describe the effect of a third party payer system on equilibrium price and quantity. I have a neighbor who had bi-pass surgery that cost us all $150,000 and he was ninety years old.
What is the current target federal funds rate, as of October 24, 2012 and what decision did the Fed make regarding the federal funds rate?
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