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How do economists define a "bubble"? Provide an example of an asset market that you think could be the next bubble and explain why. (Do not use the examples cited in your textbook).
If it causes output to increase by more than 10 percent, production function is said to exhibit increasing returns to scale. Why might a production function exhibit decreasing or increasing returns to scale.
For the true value of assets to be felt, you should only hold money up to the point where its ________ is equal to its marginal benefits.
Shepherd Book invests $15,000 in a pension. During the first year, the pension will be worth $1,000, the second year $2,000, the third year $1,000, and the fourth year $2,000, and so on. What is the annual worth of this pension to Rev. Book, given th..
What is the difference between Real GDP and nominal GDP, and why do we care?
With reference to the theories of Schumpeter, and the activities of one or more real world entrepreneurs during the last decade, explain how entrepreneurship can be either productive or unproductive (/destructive).
Why did Robert S. McNamara “see no reasonable way to bring the Vietnam war to an end soon”? What was the difference, if any, between ending the war and winning the war? To what extent could McNamara's assessment be said to reflect the success of the ..
The chapter on "why trade is not as high as it should be" identified currency costs as representing 14% of the border-related costs
What is an opportunity cost, and why is the term important in economics? (The answer should be a calculation with 2 or 3 complete sentences).
When the price of gasoline goes up demand for the Toyota Prius. Is this a violation of the principles of demand since gasoline is a complement to the Prius? Explain.
The failure of the Bretton Woods system. What lessons does this historical incidence offer to European countries that all use the Euro as their currency?
Why is the hypothesized trade-off between unemployment and inflation important for policy makers?
Discuss in detail several effective local security practices to harden your Linux distribution.
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