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Lesley is a single mother with 2 children. She can earn $10 per hour and can work up to 1,800 hours per year. However, if she does not earn any income at all, she will receive government benefits totalling $18,000 per year. For every $1 of income she earns, her level of government support is reduced by $1. Lesley
has no monetary incentive to work, though she may still choose to work
has a monetary incentive to work and will maximize her income if she works for 300 hours
has a monetary incentive to work and will maximize her income if she works for 600 hours
has a monetary incentive to work and will maximize her income if she works for 900 hours
Tariffs and quotas can be used to achieve similar ends. In fact, for any given quota, there is an equivalent tariff that will limit imports to exactly the same amount. Still, there are differences between quotas and tariffs.
Sam has the opportunity to purchase a US Treasury bond that matures in eight years and has a face value of $10,000. This means that Sam will receive 10,000 cash when the bond's maturity date is reached. In addition, the bond stipulates a fixed nomina..
1 -List one industry that is an example of a perfectly competitve industry and one that is an example of a monopoly. 2-Explain and discuss why these industries are examples of perfect competition and a monopoly using the characterstics of these ind..
Wise politicians would therefore be advised not to meddle and attempt to affect the economy cycles with discretionary monetary and fiscal policies.
The purpose of advertising & other forms of non-price competition by a firm is to shift the Demand curve to the Right or Left.
as a business owner you need to approach the issue of globalization and trade in context. with all the complicated
Currently, the economy is in equilibrium at Q = 3200 (where Q = potential GDP) and P = 100. You can use monetary and fiscal policies to affect aggregate demand but you cannot affect aggregate supply in the short run.
Suppose a computer virus disables the nation's automatic tellter machines, making withdrawals from bank accounts less convenient. As a result, people want to keep more money on hand, increasing the deman for money.
generally speaking many companies are interested in the potential cost savings of using the same product and
What is the velocity of money (V) and the price level (P) consistent with the quantity equation?
What are the monopolist's profit-maximizing output and price and what is the resulting deadweight loss relative to the competitive outcome?
neoclassical economics was a crucial stage in the creation of a genuinely scientific unified theory of economic
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