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Question: 1. Explain the meaning of IS curve. Why does it have a negative slope? What factors determine the flatness or steepness of the IS curve?
You want to expand your garage. A contractor, who was highly recommended, says that he will do the whole job (new roof, automatic garage door, insulation and more) for $55,000. He offers you two choices: At what monthly bank interest rate would the t..
In evaluating the accuracy of their statements, should one distinguish between (i) economist’s descriptive statements, propositions, and predictions about the world, and (ii) their statements about what policies should be adopted. Explain in detail
If all countries eliminated all barriers to immigration, would global economic growth increase? Why or why not?
Why would a manager of a firm be interested in knowing the value of the price elasticity of demand for its firm s product. How could he/she use this information to make better decisions that benefit the firm?
The basic difference between explicit and implicit costs is
Assume the utility functions for two cities are identical and are given by U=1.6N --- 0.13*N2, where N denotes the city’s population in million. What is each city’s utility maximizing population? If each city had a population of 9 million people, ho..
Welfare is a contentious topic in America, but it’s just part of the overall budget process. In essay form, explain how the federal budget is divided. Which of those categories fluctuates (give an example) and which is fixed?
Describe how Hayek believed markets would coordinate actions. Explain how firm can use economic calculation but a bureaucracy cannot? Explain why. Also explain why resources will be allocated to their highest value use even though each company is onl..
Determine an appropriate strategy(s) for a resolution to the conflict. How should the teacher manage the situation with the student and the classroom.
Illustrate how much will they have accumulated principal plus interest when they reach 65 years old. What is the moral of this situation.
Assuming 5% interest, what uniform annual investment will he have to make on the girl's 8th through 17th birthdays?
Which of the following arguments do you support? Why? low voter turnout is not an indicator of trouble, as it signifies satisfaction with the status quo
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