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Explain each of the following statements using supply-and -demand idagrams.
a. "Whena cold snap hits Florida, the p[rice of orange juice rises in supermarkets throughout the country.
b. "When the weather turns warm in New England ever summer, the price of hotels rooms in Caribbean resorts plummets"
c. "When a war breaks out in the middle East, the price od gasline rises and the price of a used Cadillac falls.
Select the most serious disadvantage of globalization (in your opinion) and make at least one recommendation
A snickers bar costs $1.00 each at the concession stand at Notre Dame football games. Amanda revealed how much she is willing to pay for each snickers sold at the concession stand. She value the first bar at $2.00 and her marginal benefit declines by..
Identify for each of the following whether the actual multiplier in the banking system is rising or falling? 30 points Banks increase their reserves beyond what is necessary.
Merk is a biotech division of Bayer Pharmaceuticals. In its eight years of existence, Merk has had only one drug make it into clinical trials.
Illustrate what best depicts se events on market for recycled materials. Price remained constant.
Shannon purchases a bond for $1,142.38. The bond matures in 3 years, and she will redeem it at its face value of $1,200. Interest premiums are paid annually. If Shannon will earn a yield of 7%/year compounded yearly, what is the bond interest rate?
Explain how would you try to convince him that this is probably not the right way to look at international trade and its effects on the country.
A firm produces 8000 units of output, which it sells for $1.50 each. It produces this output using only labor and capital, and pays $7000 to its labor and $1500 to its capital. The firm's owner feels she could make $4,000 working somewhere else. What..
Suppose you plan to go to school this summer. The cost of tuition and textbooks is $1,400 and housing, board, and entertainment will cost you $500. If you didn't go to school, you'd live in your parents' house for free, but your other living expenses..
Assume in parts (a) – (c) that the Fed has decided that a slow (50 basis points per year) rise in the Federal funds rate is likely the correct approach to balancing risks of holding inflation to around 2% per year while maintaining enough growth in G..
In recent decades, trade has been growing faster than income for many countries. What combination of trade effects is sufficient for this to come about? Is this behavior consistent with the Rybczynski theorem? Under what circumstances?
Explain the difference between an increase in demand and an increase in quantity demanded. Draw separate graphs of each to help support your answer. (Be sure you have addressed why each of these changes have occurred)
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