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How do the topics related to elasticities and forecasts go together? Explain how you could use information covered in Chapter 8, "Elasticities," to support information covered in Chapter 9, "Forecasts," and vice versa.
Give a single definition of the term “the market” as it is used in expressions like “the market for wheat,” “the legal US market for kidneys,” and “the market for the common stock of a particular corporation.” Explain why your definition is broad eno..
Explain how and why trade barriers have come down in recent decades. List the reasons why our trade deficit has grown so quickly since the mid-1990s. What can we do to help bring it down? Explain how international trade (exports and imports) affects ..
In a certain economy the expectations-augmented Philips curve is: Π = Πe - 2(u-u*) u* = 0,06 (natural rate of unemployment)
How does Mancur Olson explain differences in economic performance of nations by the concept of public goods?
It is felt by the executives that this proprietary technology will change the car buyer public's view toward electric cars forever and make SpaceCar the number one manufacture of automobiles and the RAT the number one selling car of all times. Assumi..
Describe five everyday examples of you or someone else making an interpersonal utility comparison. How is buying a house in a good school district like sending children to a private school? Of two similar houses on a street, one faces the ocean and t..
QUESTION: Evaluate whether an increase in government spending on infrastructure would always increase rGDP.
Why does both nations with high living standards and nations with low living standards face the problem of scarcity.
Suppose there is a $200 billion recessionary gap. If there are no taxes or imports to restore the economy back to potential GDP how much should government expenditure be changed if the marginal propensity to consume is 0.75? Does government expenditu..
St. Joseph's school has 1,200 students, each of whom currently pays $8,000 per year to attend. In addition to revenues from tuition, the school receives an appropriation from the church to sustain its activities. She suggests that another solution mi..
One of the economic principles is that there is a trade-off between efficiency and equality. If we want to reduce food prices so that more people can afford.
Consider the discrete Bertrand game described in the Oligopoly lecture notes/video. According to the rules of this game each student selects a number from the set {0,1,2, 3, 4, 5, 6, 7, 8, 9, 10} and is randomly matched with another student.
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