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Microeconomics question
What is economics? What role does economics play in your personal and organizations decisions? Give an example of the role of economics in decision making.
Illustrate what were some of the major contributing factors and how did they combine to cause the recession. How were you affected by it.
All semester we have been tracking the economy to discern where it currently resides along the business cycle and where it seems to be headed over the next 6-9 months.
You have been hired to work with a resort owner in Northern Minnesota. This resort owner runs a very small operation catering to mostly people who like to fish.
In national income accounting identity showing the equality between national saving and investment, what is the representation of private saving and what is the representation of public saving?
Illustrate what are the production elasticities of demand for labor, capital (trucks) and energy. What type of returns to scale is consistent with the above production function.
How is interest rate described? Why is there a lower present value of goods to be delivered in future? What are their respective interest rates? Illustrate the adjustments which you think will ensue.
Economists also businesses almost always compare costs and benefits in their decision making.
Illustrate what are the best goals for the Fed. Should it lean toward restraint or toward expansion.
The following information describes a hypothetical economy (assume all numbers are in billion if necessary) Determine the value of the MPC of this economy?
For an unknown reason, aliens kidnapped all immigrants residing in the US. One morning America wakes up and finds that the only people left in the country are American citizens, while all legal and illegal immigrants are gone.
Explain how might I have reallocated my spending so as to maximize my total satisfaction from pizza and coffee.
Illustratr what is there is an increase in the supply of money.
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