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Consider the following market demand and supply curves.
P = 9 + .4QS
P = 30-.3QD
where P is the price per unit in dollars and Qs and QD are quantities supplied and demanded (in millions of units) respectively. Find the equilibrium price and quantity that will prevail in the market. At a price of $10, would there be a surplus or shortage? If so, how much?
Explain how does the market system efficiently perform the functions of communication, coordination and motivation in the distribution of resouces to comsumers.
Elucidate the opportunity costs for the manager of being in this business relative to returning to his old job. what is the economic profit of the business.
A country that has never had its own currency has formed a central bank and put you in charge of developing money.
If the required reserve ratio ia 10 percent, up to illustrate what amount could checking account deposits in the banking system as a whole drop.
Suppose we refused to sell goods to any country that reduced or halted its exports to us. Who would benefit and who would lose from such retaliation. What could you suggest alternative ways to ensure import supplies.
Suddenly, 20,000 people immigrate from abroad and initially settle in the West. Elucidate why they possess the same skills as the native residents and also supply their labor inelastically.
Assume a consumer who buys cola and ice cream for snacks. Assume that the price of ice cream increases. Which of the following is an example of the substitution effect.
Illustrate what are the arguments for using real per capita GNI to compare living standards between countries.
Organize the above data into the appropriate categories for the current as well as capital accounts determine the current account balance, the capital account balance, as well as the official settlements account balance.
What would happen to the value of gold if people discovered that it could easily be made at home from inexpensive materials
Utilize these values at this point on demand to make the subsequent computations.
What were there reason why IMB lost it advange over the computer world.
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