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In some countries, price controls exist on some goods, which set maximum prices at which these goods can be sold. Indeed, the United States experienced a period of wage and price controls when the Nixon administration introduced wage and price controls in 1971. Sometimes the existence of price controls leads to the growth of black markets, where goods are exchanged at prices above the legal maximums. Carefully explain how price controls present a problem for measuring GDP and for measuring the price level and inflation.
Repeat part c, starting the economy above the steady-state capital-labor ratio. Explain the observed growth path.
Is there any information that you find particularly interesting or unique to this entity?
If each adult angler in the United States would value a 20 percent reduction in toxins at the same rate as anglers in Wisconsin, what annual value would a nationwide 20 percent reduction provide to U.S. anglers?
Product X is traded on the international market at a price p = 0.5. Consider a small open economy where there are two firms, A and B, producing product X. The two firms have a production function q^A = 10l^1/2k^1/2 and q^B = 10 min{l, k}
If an investor deposits $1000 now, $3000 three years from now, and $600 per year for 5 years starting 4 years from now, how much money can be withdrawn every year forever beginning 12 years from now, if the rate of return on the investment is 8%.
What are the major reasons for these nations to question their participation in the EU? Are they political or economic considerations?
If electron beam is focussed to a 15 nm spot, and at least 100 Auger events (electrons) must be collected to get a signal, what is the detection limit of Auger microprobe?
If you were to determine net domestic product (NDP) through the expenditures approach, which of these two measures of investment spending would be appropriate? Explain.
Assume your research staff used regression analysis to estimate the industry demand curve for Product X.Qx = 10,000 - 100 Px + 0.5 Y - 1000 r (3,000) (20) (0.3) (105)
Home has 1,200 units of labor available. It can produce two goods, apples and bananas. The unit labor requirement in apple production is 3, while in banana production it is 2.
Under pressure from apple growers, the government decides to put a per-unit subsidy the apple market that results in a new equilibrium quantity of 10 lbs of apples. A small country that currently does not trade with the world
Yesterday, a perfectly competitive producer of construction bricks manufactured and sold 10,000 bricks per week at a market price that was just equal to the minimum average variable cost of producing each brick. Today, all the firm's costs are the..
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