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Disequilibrium
Suppose the market for cars is unregulated. That is, car prices are free to adjust based on the forces of supply and demand.
If a shortage exists in the car market, then the current price must be(higher or lower) than the equilibrium price. For the market to reach equilibrium, you would expect ( persistent excess demand, sellers to offer lower price or buyer to offer higher price).
Discuss various cultural models in terms of immigration, such as assimilation, pluralism, and multiculturalism. What model is used today? Discuss the assimilation, pluralism, and multiculturalism models, and include their historical timelines.
Suppose there are two goods, labeled x, y. A consumer has a budget of w = 220. Suppose the following two consumption bundles: (x = 4, y = 10), (x = 6, y = 4) all cost the consumer 220. (a) What’s the price ratio between the two goods? Namely what’s p..
Assume that the price of smartphones increased from $600 to $666 per unit. The manufacturer decides to supply 14,000 units instead of 10,000. Calculate the price elasticity of supply. Is supply elastic or inelastic?
Locate two recent articles regarding the current global economic crisis.
Which of the variables above is NOT statistically significant at the 0.05 level.
American (domestic) current event, firm, or market. Foreign (outside of the U.S.) current event, firm, or market. Favorite Case Study from the Modules Forum. How has this course changed your thinking about the economy & your own economic approach t..
Consider a hypothetical economy in which households spend $0.80 of each additional dollar of their after-tax income. The expenditure multiplier for this economy is ____. Suppose that this economy is experiencing a recession. The impact of a one-time ..
In a sample of 100 people who have had strokes, the average cholesterol level was 250 with a standard deviation of 40. In order to test the hypothesis (at the 5% level of significance) that the average cholesterol level of people who have had stro..
Suppose the demand for golf at a country club is Q = 80 - .5P and MC = $40. How many rounds of golf will a member buy and how much could the club charge as an annual membership fee? Draw a diagram.
Using date from the Current Population Survey, the U.S. Bureau of labor Statistics recently announced that the U.S. November unemployment rate was 5.8 percent, the Northwest Arkansas metro area November unemployment rate was 3.9 percent, and that U.S..
Explain how a price increase could be better for society than not raising the price of a product or service. Why does central planning not work efficiently?
An increase in the price of product X causes a decrease in the quantity demanded for product X. One basic explanation for this is:
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