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How is GDP a measure of both output and income? How is it possible that both measures of GDP - income and expenditure approach - can end up with the same number?
Suppose a firm’s production function is given by the following equation: Q = min(5K, 10L). If the firm is using 4 units of capital and 3 units of labor, how much output are they producing? Is this firm operating efficiently?
Describe ethical considerations with regard to marketing to children. When the marketers' pitch includes a cause component, such as a breakfast cereal that promises to provide breakfasts to undernourished school children, explain whether this is e..
Members of some species of hermaphroditic fish choose, in each mating encounter, whether to play the role of a male or a female. Each fish has a preferred role, which uses up fewer resources and hence allows more future mating. A fish obtains a payof..
First National Bank receives a deposit of $5,400. If there is no slippage, explain how much could the money supply expand.
To enrich an experience, we can pay attention to what ways an experience is new to you, such as previously overlooked nuances in gratitude. According to Hansen, being able to access a positive mental state is NOT essential for well being and coping.
Use the characteristics/features of the different market structure to determine which market structure to classify your chosen firm.
You have studied the executive branch of government and the wide range of power, as well as the various roles of the head of that branch, the president. Consider the presidency of Barack Obama.
Cap-and trade as an economic tool for controlling environmental pollution only works if the regulating agency has specific information about the environment. What must be known for cap-and-trade work?
At the current price level, would it be viable for the firm to increase the price level of its brand of coffee. Support your answer.
Suppose Chen has demand Q = 40 – 2P for streetlights and Abby has the demand Q = 10 – (1/2)P for streetlights. The cost of building each streetlight is $19. How many streetlights are socially optimal? How many streetlights would be privately purchase..
Illustrate what role did the policies of various governments play in influencing the international expansion strategies of both McDonald's also Wal-Mart.
From 2006 to 2010, per capita real gross domestic product (GDP) in Poland grew an average of 4.71% per year. At that rate, according to the Rule of 70, in roughly how many years will the Polish economy double in size?
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