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Explain what happens to price and quantity of oil when the following events occur:
a.The rising popularity of hybrid vehicles
b.A slowdown in the production of crude oil worldwide.
c.Congressional action that allows oil-drilling operations in more areas of the Alaska reserve.
Illustrate what are the major macroeconomic goals of all societies.
Estimate total revenue function and the marginal revenue function with just this information.
If the price of 1 pound of cereals is $10 and the price of a sword is $100, what is the wage rate paid to Hobbits in the Shire? How many Hobbits work in the cereal sector? In sword sector? Because of the War of the Ring, the price of a sword went ..
Suppose a growing world with positive real income andeconomic growth. There are some lower income countries producinggoods for basic necessities of life. If income of the poor peoplebelonging to lower income countries increases
Discuss the advantages and disadvantages of adjustable-rate versus fixed-rate mortgages?
Use an AD-AS diagram (draw and scan or create on your computer) to show the short run and long run effects of using the policy you chose.
Contrast the role of constant-cost, increasing-cost, and decreasing-cost industries in determining the shape of a long-run market supply curve.
Prepare a chart that lists three strengths and three weaknesses of the Consumer Price Index calculation.
Describe the benefits and costs associated with each type of externality. What happens to the Supply and/or Demand curve.
What are the uses of money? How do commercial banks and Federal banks create money? Is monetary policy conducted independently in the United States?
Why is economics considered a social science? What role does economics play in your personal and professional lives?
Discuss the factors that determine the marginal cost of reducing crime. Discuss the factors that determine the marginal benefit of reducing crime. Would it be economically efficient to reduce the amount of crime to zero
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