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1. How might a social critic respond to the claim that governmental involvement in the economy is unjustified because of the invisible hand theorem?
2. Why is the slope of the production possibilities frontier equal to the ratio of marginal production costs?
3. How might a critic respond to the claim that taxes always make the allocation of resources less efficient?
For an asset that fits into the MACRS "all property not assigned to another class" designation, what is the book value at the end of year 7 for the asset Assume the asset has a 10-year life of use and that the cost basis for the asset is $10,000.
A company is considering building a bridge across a river. The bridge would cost $2 million to build and nothing to maintain. The following table shows the company's anticipated demand over the lifetime of the bridge Price Per Crossing Number of C..
if real GDP in 2002 were $10,048.8 billion and nominal GDP in 2002 were $10,049.6 billion calculate the percentage change from 2001 to 2002 in nominal GDP, real GDP and price level. What is the value of the GDP deflator in 2002
suppose a cost minimizing firm wishes to change its scale of production and needs to know the combination of labor and capital to employ. If the firms total cost outlay is $14, find this combination using the information
Consider two cars. One has a price of $30,000. It averages 20 miles per gallon. A $1,500 tax credit is offered by the government for this vehicle. The other has a price of $27,000. It averages 16 miles per gallon. Interest rate= 3% per year.
Identify and list the various costs-fixed and variable, direct and indirect-required to execute the project.
Suppose that last year, the nominal exchange rate between the Japanese yen and the British pound was ¥225.0 per £1.0, one unit of Japanese output cost ¥2000, and one unit of British output cost £8.0. What was the real exchange rate between the U.K.
question 1 suppose that oil prices rise sharply for years as a result of a war in the middle east. illustrate with a
Inspection equipment costs $2,000 now. The general price inflation rates for the past five years have been 2%, 3%, 4%, 3%, and 4%. What is the real $ cost of the item now
What are the potential legal risks associated with the downsizing situation facing WeaveTech?
Graph the functions and find the equilibrium price and quantity by equating demand and supply
Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes, she can raise 200..
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