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How do economic decisions about scarcity, supply and demand, and competition affect individuals and groups?
Long-run aggregate supply has this characteristic because
The "dual mandate" refers to the:
Holding other factors constant, if Congress passes a 5% investment tax credit under which a firm receives $5 in tax refunds from the government for every $100 it spends on new capital equipment, then the real interest rate will ______ and the equilib..
Under free trade, Argentina exports beef. Its government imposes a tax t on exports. Draw and label a diagram to show what happens to Argentine beef consumption, production, exports, domestic prices, consumer and producer surplus
Suppose the demand curve for a monopolist is Q D = 47,000 - 50 P, and the marginal revenue function is MR = 940 - 0.04 Q .
Many countries often come together to sign treaties for trade or security. What are some of the economic and political reasons for signing such treaties? Can you identify some ways in which these treaties are enforced?
Assume that labor demand for low-skilled workers in the United States is: w = 24 – 0.1E where E is the number of workers (in millions) and w is the hourly wage. Assume there are currently 120 million domestic U.S. low-skilled workers who supply labor..
Tracy is a marketing manager at humbert and humbert literary works. She has estimated that the likely demand for a new novel is well represented by equations Qd=10,000- 400(p) +10,000 x D + A/10. Qd is the number of books sold.
Which one of the following statements about a monopolist exercising “perfect” price discrimination must be untrue?
Many industrialized countries such as the United States attempt to seriously restrict immigration of production workers, but are more open to immigrants who are highly-skilled. Why might this be the case? Why is this a problem for developing countrie..
Demand: P=50-QD and Supply: P= 25+QS The government decides to impose a price floor of $40. Illustrate graphically the different economics effects of such intervention in this market. Calculate and compute the deadweight loss generated by the governm..
Imagine that we know that Okun's Law applies to a particular economy, let's call it "Messi-land". Suppose we are told that over a certain period employment in Messi-land grew by 2% while over the same period the labour force in Messi-land grew by 3%...
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