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Corn prices are up more than 60% over the last seven weeks as the worst drought in more than half a century blankets the corn belt in the Midwest." (News, Cnnmoney.com, August 9, 2012)
Use the demand and supply analysis to explain how higher price of corn impact the market for Ethanol (a motor fuel manufactured from corn and can be used to power the engines of many Automobiles).
(decide which side of the market is affected, demand or supply, and what is the effect on equilibrium price and quantity )
Describe how the market for Alaskan king crab will be affected if, at the same time that medical reports confirm that suspected health benefits from consumption of Alaskan king crab meat, wages are increased for trawler men
Compare the two graphs for GNP for Techistan and Growthistan. What is the difference in the final value of GNP for each country and Plot the growth rate for Techistan and Growthistan on one plot.
Using the production function shown above, compute real GDP for each case and capital is constant but labour is increasing. What property of the production function is displayed? Explain.
Write a critical commentary on the Stern review on climate change from the perspective of African nations. You can use case studies of one or more African nations.
Explain what the Durbin-Watson statistic from regression indicates and Plot the residuals against time and comment on whether there is a seasonal pattern.
Determie what geopolitical events helped shape John Maynard Keynes theories and how did they shape the future of economic policy in the United States and other Western nations?
Choose a United States multinational company. In terms of currency denomination, discuss how the company values its revenues and costs.
The exponent of D in the above equation is +0.75. What does this say about the effect of bus fare on the demand for auto travel? Is the demand for auto with respect to auto travel-time elastic or inelastic? Please explain.
What are "normal" goods? Give an example in our current economy and what are "inferior" goods? Give an example in our current economy.
What are the efficient quantities for each of the two periods? What are the correspondingprices and MUCs?
What is the monthly payment if you ?nance the car over 4 years at the following interest rates: 0%, 4%, and 8%?
Explain why the waiter will provide bad service and since you are interested in good service, can you convince the waiter, in a binding/credible manner that you will tip him?
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