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Explain the meaning of the following statements:
a) ‘Before economic growth, there were too few goods; after growth, there is too little time.'
b) ‘It is irrational for an individual to take the time to be completely rational in economic decision making.'
Suppose the demand curve is given by QD = 400 – 50 P, where P is price. The supply curve if given by QS = 50P
Because government-operated firms do not have to make a profit, they can usually produce at a lower cost and charge a lower price than privately owned enterprises." Evaluate this view.
One popular voting scheme is rank order voting, where persons assign a rank (1,2,3) to the possible options; the assigned ranks are then added up and alternative with lowest sum wins.
Using the 3-graph model developed in chapter 14, consider first the impact on the demand for loanable funds. If businesses respond as expected to the investment-tax credit, what will happen to the demand for loanable funds Given this, what, if any..
What do you think large corporations like Microsoft and WalMart should be regulated more or less than they are.
Once it is describe to be elastic or inelastic, explain how do you come to that conclusion.
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 is the the ratio of a good's money price to the price of the next best alternative good (is its opportunity cost)?
Illustrate what is the difference among National Income, Gross National Product, and Gross Domestic Product? Why do most countries now use GDP as a measure of national output?
Explain at least two limitations of the use of GDP in aggregate accounting
the European central bank euro area statistic for the most recent last-year period since the outburst of the global financial crisis. have their growth rates been similar what implications does this have for the conduct of monetary policy
Assume you are the manager of Abba Cable Company, which provides commercial communication services to the town of Canyon Lake, Texas. Because of licensing restrictions in the market, only your company and two others (Babba and Cabba) are allowed t..
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