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Imagine you come back to your economics class in the year 2050. How will the textbook describe money and banking? Based on trends you see today, make a prediction for the future of money. Explain why you think this trend will occur and how it will affect the US economy.
Suppose that Italy and Germany both produce fish and wine. Italy's opportunity cost of producing a bottle of wine is 4 pounds of fish while Germany's opportunity cost of producing a bottle of wine is 9 pounds of fish. By comparing the opportunity cos..
_______All of the following would be external sources for recruiting except
Think our company should take advantage of economies of scale by increasing our output, thereby spreading out our overhead costs.
When supply shifts cause a downturn in the economy:
Three individuals have $1000 and identical preferences for gum, g, and cigarettes, s, as measured by the utility function U(g,s) = 10g0.9a0.1. The price of gum is $9 and the price of cigarettes is $12. What is the market surplus/shortage at a price o..
Suppose you are being interviewed by Business Think. You're asked to explain the concept of a balanced budget multiplier: What is the basic idea of a balanced budget fiscal policy?
Consider the following after-tax cash flows: Compute the future worth’s of the projects at the end of period 7. Assume that the required service period is seven years and that the company is considering a comparable equipment that has an annual lease..
Reinert maintains that the evidence is that North-South trade has a _______ negative impact on the wages of Northern unskilled workers, and that protectionism ___________ a reasonable response.
An absence of property rights often leads to market failure. When this is the case, how does society usually solve the problem?
Illustrate what is an opportunity cost. Elucidate how does the idea relate to the definition of economics.
the original manufacturer is deciding whether they should continue production of the toy truck. If the estimated demand is $100,000 trucks, what is the breakeven price for the toy truck? Should you shut down?
The demand function for a good is given as Q = 10 – 2P, where Q = quantity demanded and P = the market price per unit of the good. The cost function is given as C = 8 + 0.5Q where C = total cost. If P = $3, how much profit is earned?
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