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show the market for pianos in 2008. Between 2008 and 2009, the equilibrium quantity of pianos remained constant, but the equilibrium price of pianos increased. From this, you can conclude that between 2008 and 2009, the supply of pianos (A)was unchanged (B) increased or (C) decrease and the demand for for pianos (A) unchanged (B) increased (C) decreased. Please choose and answer for each
Explain how does the availability of substitutes affect purchasing decisions.
What are primarily intended to address the problem of insuring people who do not have health insurance? Would a public national health insurance system reduce total spending on health care in our economy?
The table below is a production possibility table for the fictional country of Myopia. Use it to construct the corresponding production possibility curve.
The Hull Petroleum Company and Inverted V are retail gasoline franchises that compete in a local market to sell gasoline to consumers.
Elucidate the one thing, regarding the role of the government that separates classical economic theories and Keynesian economic theory.
If monetary authority wants to stimulate an economy in a recession, it often reduces interest rates, and if inflation rate is low, as it has been in the early part of current decade,
Suppose the following data about the demand for goods and services. All variables are in billions of dollars. Suppose that potential level of output is $12,000 billion. Use the above data to calculate the size of the output gap?
The university has been struggling in recent years, so they have hired you to help them in their last attempt to find an appropriate solution so that the university can survive
As a portfolio manager whose company has investments in a country with a high level of debt what would you do to raise your companies profit or protect their interest if;
The domestic supply curve is P=30+0.5Q. The world price for lithium batteries is $40. If the quota is set for 20 units, what is the deadweight loss from the quota?
Given the above prices, will the firm adopt a new method which involves 10 units of land, 3 of labor, 2 of capital, and 2 of entrepreneurial ability?
illustrtae what are some of the price and how do expectations inluence the effects of inflation.
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