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It rains so much in the country of Tropicana that capital equipment rusts out (depreciates) at a much faster rate than it does in the country of Sahara. If the countries are otherwise identical, in which country will the Golden Rule level of capital per worker be higher? Illustrate graphically.
Assume the economy has a Cobb-Douglas production and is in a steady state. Calculate the technology growth rate for this economy. What is a the marginal product of capital for this economy
Ethanol or ethyl alcohol is a motor fuel produced from sugarcane, corn or other sugar based feedstocks. In the United States, where ethanol production uses corn as feedstock, the Energy Policy Act requires that a minimum quantity of renewable fuels l..
What is a price ceiling and what effect does it have on the market? List and explain several positive and or negative consequences of this action. What would happen to producer and consumer surplus?
what is the cross-price elasticity of demand between computers and CD-RW's? Are these goods substitutes or complements?
q1. in may 2011 the average price of gasoline in the united states was 3.76 per gallon and consumers bought 5 percent
one of your econ classmates is puzzled by how the wealth effect is a reason for not only the downward sloping nature of aggregate demand (AD) schedule, but also for shifts in the AD curve. Briefly offer an ezplaination that can resolve that dilems..
what happens to gross debt as a percentage of GDP. Elucidate what happens to the level of debt held by the public as a percentage of GDP.
Supply and Demand in the Cell Phone Market. As wages increase for Apple Workers, what happens to the price and quantity of iphones? As the price of drone phones decrease, what happens to the price and quantity of iphones? If the government taxes cell..
Impact the decrease in the price of land will have on this firm's short run cost curves (short run fixed costs, variable costs also total costs). Elucidate your illustration.
If the price per visit is given to be $25, at what level of visits will the maximum profit position be? What are the profits at this level? What is the quantity supplied?
explain a diagram for an industry in a developing country where infant industry protection might be a good idea. What are arguments for and against governments in developing countries giving infant industry protection to new industries.
What would it take for a point beyond the PPF to ultimately become attainable? Name an important assumption associated with the PPF. Why are models such as the PPF which require broad assumptions used in economics?
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