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Your uncle says that the government should mandate a maximum price for gasoline. As an economist, explain to your uncle the economic term for that law and its potential consequences. Your cousin then proposes that there ought to be minimum prices for farm products "to be fair" to the growers. Explain the economic term for that law and the problem that economists would have with it. Work in the principles of demand, supply, surplus and shortage in both of your responses.
In a sample of 100 days where the machine is working properly all day on how many the days is it expected the machine will be re-calibrated. Show Work.
Some empirical studies have shown that new drugs improve health status. Does that finding invalidate the flat-of-the-curve medicine? Why or why not? Please make answer approximately 400 words
Fill in the table below using a Keynesian Model where aggregate expenditure equals consumption spending plus investment spending plus government spending.
State the question you will pursue in the box below? To what extent does gender influence length of stay?
The discount rate is the interest rate on loans that the Federal Reserve makes to banks. Banks occasionally borrow from the Federal Reserve when they find themselves short on reserves. A lower discount rate_____ banks' incentives to borrow reserves f..
The out-of-pocket cost for the taxi cab and the movie ticket are $12. The total cost of the movie to the consultant is
Many business' think that their only responsibility is to the share holders or owners- That is, to make the most amount of profit possible or to keep the stock price high. Do you think this is a sustainable strategy? Who else is a business responsibl..
What roles did the executive, the legislature, and the judiciary play in the development of civil rights? What are examples for EACH branch.
Choose an industry or market* and, based on the material in the last few chapters, analyze what type of market structure best describes your chosen industry/market. (i.e., is your industry monopolistically competitive, a monopoly, an oligopoly, or a ..
Opportunity cost is defined:
Mom belongs to a dealer's association and the members have kept careful records of how the forecaster has performed - Once she gets the forecast she can proceed with her decision as place a big order or a small order.
A local restaurant initially estimated a large demand for dining in a space near a floor-to-ceiling fish tank. The cost of the tank is $8 million. (Assume that such a tank has no resale value.) The owner moved ahead with the project and the tank is t..
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