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What is the latest and greatest news regarding OPEC and oil prices?
What is the most you would be willing to pay for one of these licenses, if you know that you get to choose your level of output before the other licensee does, also knowing that your choice is observable by the other licensee?
Assume that if the labor market is unregulated, the equilibrium wage for workers who do not have high school education is $5.00 an hour. Assume that the government imposes a minimum wage of $6.00 an hour. Draw a supply-demand diagram that shows what ..
In the early1980’s, to combat the recessionary forces, President Ron Reagan used expansionary fiscal policy by lowering (marginal) tax rates to combat the recession. Concurrently, Paul Volcker, Chairman of the Federal Reserve Board of Governors, redu..
After reading about the Solow growth model, which concludes that continued economic growth requires continual innovation, and Schumpeter’s dynamic growth model, does the combination of these two models provide an adequate model of technological chang..
At arraignment, Slick Martin is first becoming aware of the fact that the grand jury has indicted him for robbery. The charges are read to him. Next, the judge considers counsel for Martin. What are the judges choices on providing Martin counsel?
A newspaper has a monopoly on the local news market in a town. The market demand is given by P=1.70-Q/10,000, making the marginal revenue MR=1.70-Q/5,000. The marginal cost is constant at equal to 0.30. The fixed cost is 4,000. Variable cost is 0.30Q..
Please explain in three well-structured paragraphs the basic principles of the New Keynesian Economics and how it addresses perceived limitations to classic Keynesian theory.
Asparagus is an identified good, draw a graph of both the supply and demand curves that depsicts its market equilibrium. From the original graph, describe the effects on the supply and demand (shift left or right) that would cause the following chang..
What other factors could cause the price of heating oil to increase?
Calculate national income form the following figure-consumption: 200 billion. if there were 80 million people in this country, what would the GDP per-capita be? if all prices were to double overnight, what would happen to the values of real and nomin..
There is difficulty in confronting trade-offs between environmental preservation and other economic and social activities. The longer we defer decisions, the more stark the trade-offs. Would these resources continue to exist if we continue our curren..
The U.S. government pays an economist at the U.S. Department of Commerce $50,000 in salary in 2006. The economist then retires. In 2007, the government pays him $30,000 in retirement benefits. The 2006 payment is included in 2006 GDP as government pu..
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