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The United States has accrued a public debt of over $19 trillion over the course of its history, which is equivalent to slightly more than the annual nominal GDP of the nation. Come up with and explain at least two ideas in terms of how to reduce the debt to levels less than 100% of nominal GDP in the future, keeping in mind that every fiscal decision involves opportunity costs.
A person can choose to work any amount from 0 to 52 weeks per year at a wage of $1000 per week. Draw her annual budget constraint, representing total annual consumption versus annual weeks of leisure.
Describe the transition from short-run to long-run equilibrium in a monopolistically competitive industry.
Discuss the two major economic worries faced by American politicians, unemployment and inflation, and the options available to address them.
Locate an article from a financial periodical from the past 2 years about a company that restated its financial statements due to an error in accounting principal. Examples of periodicals are CFO and Journal of Accountancy.
Provide an example for each about decision-making, interaction and workings of economy. Explain how that influences marginal benefits and marginal costs associated with decision to purchase a house.
She is considering quitting her job and going to university full time for four years.
Brian is the 99% shareholder, president, and director of Arapine Corp. He frequently uses the corporation credit card for his personal expenses. If Arapine is insolvent and unable to pay its debts, and the corporation’s creditors sue Brian personally..
A sudden decrease in the market demand in a competitive industry leads to
If oligopolists compete hard against each other.
Elucidate the balance sheet balances if these are the only assets and liabilities. Supposing that the people hold no currency, what happens to each of these values.
Suppose that three risk-neutral bidders are interested in purchasing a Princess Beanie Baby. The bidders (numbered 1 through 3) have valuations of $12, $14, and $16, respectively. Which bidder wins an open-outcry English auction? What are the final p..
What economic principles are relevant to the Tragedy of the Commons, and how are they relevant? Cite every economic principle you can think of that applies. Also, what factors make it difficult to manage a commons?
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