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If fewer U.S. dollars are needed to buy a Swiss franc, thena. U.S. residents supply more francsb. U.S. residents buy more Swiss goodsc. U.S. goods become relatively cheaper to Swiss residentsd. Swiss goods become relatively more expensive to U.S. residentse. U.S. residents buy fewer francs
Assume you are an economic consultant for a big company that produces and sells lollipops that are shaped like the faces of Hollywood celebrities.
If average variable price are assumed to remain constant over a 10 percent increase in output, evaluate the effects of the proposed price cut on total profits.
Explain how useful is this demand equation for forecasting demand for the pill slicer in the next five years
Assume that the position of a contry's long-run aggregate supply curve has not changed, but its long-run equilibrium price level has increased.
Assume initially that the exchange rate is $2 per pound, and a particular car sells for $20,000 in New York and 10,000 pounds in London. Create new prices and a new exchange rate that will yield PPP.
You are hired as the consultant to a monopolistically competitive firm. The firm reports the following information about its price, marginal cost, and average total cost. Can the firm possibly be maximizing profit If not, what should it do to incr..
Critically discuss the strengths and weaknesses of using per capita national income (even once adjusted for purchasing power parity) as a measure of welfare. Discuss at least two alternative measures of national welfare that have been put forward? ..
Assume the economy initially is in a long run equilibrium plus the following: the U.S. dollar is relatively strong against all major foreign currencies. Suppose the Congress and the President decide to decrease government spending dramatically
Provide two terms which you have heard in the mass media, political arena, or in any other venue.
Differentiate between a change in quantity demanded and a change in demand. In the three months before a $1 per pack cigarette tax took effect in Alaska, smokers bought 175 million more cigarettes than during the same period a year earlier.
Conduct a research review of the published literature and write a concise summary and evaluation of the research that is related to unemployment
Two oligopoly company are in the process of estimating their marketing strategies. Firm 1 can generate estimated profits of $10 million from strategy A
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