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Elasticities of demand and supply: Calculation Methods
How can we calculate the elasticities of demand from a demand function, and elasticities of supply from a supply function ?
What is business cycle? Describe the four phases of the business cycle. Where on the business cycle do you think the U.S. economy is today?
Questions on Long-Run Labor Demand and Factor Substitutability, Own-price elasticity, Cross-price elasticity
Explain why do you think that whenever the government needs to raise their revenue they usually decide to increase the tax on items such as gas
Apart from the abundance of these resources, you also see a lot of poverty. Can you provide an economic explanation of why poverty exists
Suppose that natural real GDP is constant. For every 1 percent increase in the rate of inflation above its expected level, firms are willing to increase real GDP by 2 percent.
How many "spells" of unemployment occur each year in this economy? What percentage of the "spells" are only one month long?
Explain the method that you would use in your establishment also explain why you have made this decision.
An entrepreneur plans to convert a building she owns into a video-game arcade. Her main decision is how many games to purchase for the arcade.
Describe events that might lead to a disequilibrium in the market for gasoline.
Answer the next three questions on the basis of the following production possibilies data for Francia and Galacia. All data are in tons.
Explain how do you go about drawing an indifference for such a utility function.
Associate a current event article which relates to government regulations or antitrust activities.
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