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Draw diagrams to explain how shifts in aggregate supply and demand are likely to lead to changes in output and inflation when:
a) the government cuts income tax rates
b) the Fed sells government securities
c) the Fed lowers banks’ required reserve ratios
d) OPEC triples oil prices
e) the government institutes an effective job training program for high school dropouts
f) floods in the Midwest causes farm output to fall
Explain should decision management as well as decision control be separated.
Insurance Companies track life expectancy information to assist in determing the cost of life insurance policies. Last year the average life expectancy of all policy holders was 77 years. ABI Insurance wants to determine if their clients now have a l..
When demand changes and when quantity demanded? Explain the difference? Bring an example and explain which demand determinant you are talking about? Bring an example of production.
Illustrate what is OPEC's optimal level of production? Illustrate what is the prevailing price of oil at this level.
Donna buys goods X and Y. She can just afford the bundle X=6 and Y=11. She can also afford X=12 and Y=8.Each of these bundles exhausts her income. Draw Donna's budget line. What is the ratio of the price of x to the price of y? If Amy spent her entir..
At what level must be a ceiling price imposed upon the monopolist's market to cause the monopolist to supply the efficient quantity supplied?
The federal minimum wage was last increased from $6.55 to $7.25 per hour. Suppose that the elasticity of labor supply of teenagers is 0.12. Using this estimate, by what percent would you expect teenagers’ quantity of labor supplied to change in respo..
What are some examples of how business intelligence (BI) helps organizations make decisions? How does a BI dashboard aid in the decision-making process?
Why are poor countries poor and rich countries rich. Illustrate what are the main ingredients for economic growth.
Aside from retail sales and marketing, identify and discuss two ways that a business could reduce costs or increase profits by using the Internet or Web applications.
If a monopolist produces clear spring water at zero total cost, its total revenue will be maximized where, The price elasticity of the firm's demand curve is equal to one
Describe return to an investment in a college education. How would you go about measuring it. How would you decide it is good enough to warrant investment.
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