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Using the broken window fallacy as described in "In The News" (p. 14 of Principles of Microeconomics),explain why some journalists, policy makers, and others proclaim that natural disasters are good for the economy in terms of eliminating old infrastructure and helping to create jobs. Do you agree or disagree? Provide specific examples to support your answers.
What are the limits of the terms of trade? Specifically, when is Canada willing to trade with Japan, and when is Japan willing to trade with Canada?
For each of following cost-output relationships, explain the shape (U-shape, decreasing, increasing, constant) of the average total cost and marginal cost functions
You are the human resources manager for a boutique retailer. Currently, the company pays the sales staff a flat $18/hour for each 8 hour shift, regardless of sales. You suggest an alternative compensation scheme in which sales personnel receive $8/ho..
Franklin D. Roosevelt ' New Deal in the 1930's aid United States to go through the depression. There were famous 3-Rs: relief, recovery and reform.
Harvard, Yale and Princeton all charge relatively high tuition. Still each uses ACT and SAT score as admission criteria. Are charging a relatively high tuition and using standardized test scores inconsistent
In a small economy, gross investment in 2009 is $1,500, consumption spending is $6,000, net investment is $200, government spending is $1,500, exports are $2,000 and imports are $1,000. What is GDP for this economy in 2009?
Coles and Woolworths exist as two large competitors in the supermarket retail industry. A marketing firm is interested in measuring dominancy in this specific industry by observing the percentage of market share over several months.
1 suppose that the market for bottled water is perfectly competitive.a. draw the current equilibrium using graphs for
In imperfect competition, labour markets can lead to worker exploitation in terms of their wage rates they receive compared with wage rates in perfect competition. Discuss this opinion.
a. Represent this game in the extensive form. b. Draw the Bayesian normal-form matrix of this game.
Price is constant or given to the individual firm selling in a purely competitive market - most important pricing strategy for a perfectly competitive firm
write a paper of approximately 750 words that answers the following questions. use the contemporary economic issue
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