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The 17th century English North American colonists were left alone by the imperialist government in London. The imperial government did not try to impose rules and regulations on the colonists because folks back then understood the benefits of free trade and a truly free market for goods and labor. Instead, the imperial government left the colonists in perfect freedom to pursue their own happiness and economic success. It was only later - after the Glorious Revolution of 1688-89 - that the imperial government turned tyrannical, meddling in colonial affairs by imposing measures like the Navigation Acts and the Dominion of New England." Is this statement historically accurate? Why or why not?
Suppose that Lorena consumes only three different goods: steak knives, butter knives, and butcher knives. If, according to Lorena’s preferences, butter and butcher knives are inferior god, must steak knives be a normal good?
In the past two decades, nontariff trade barriers have gained importance as protectionist devices. What are the major non-tariff trade barriers?
Each firm in a competitive market has a cost function of C=16+q^2, so its marginal cost function is MC=2q. The market demand function is Q=24-p. Determine the long-run equilibrium price, quantity per firm, market quantity, and number of firms.
Suppose GDP is $15 trillion, taxes are $3 trillion, private saving is $2 trillion, and public saving is -$0.5 trillion. Assuming this economy is closed, calculate consumption, government purchases, national saving, and investment. Explain your answer..
How do bribery and corruption influence the economy negatively? Answer and explain three major impacts.
A firm is considering two options for improving the security of its employee accounts from remote compromise. The firm calculates that the probability of compromise without enacting any additional security measures is 0.5, and that successful atta..
Suppose that a consumer’s demand for a product is given by P = 80-2Q. A monopolist produces the product at constant marginal cost, where MC = $6. The firm has no fixed costs. What value of T and P should the firm choose if it wants to maximize its pr..
Choose a problem in your clinical setting and write a PICOT question.
Why is financial planning important for a sporting event?
How do economies of scale compare to diminishing marginal returns?
How much will the quantity demanded change from the amount demanded before the tax? what price will consumers pay after the tax? what price will sellers receive after the tax?
Why does this happen that Research the recent history of gasoline pricing in Texas, and attempt to relate any fluctuations you observe to documented supply and demand factors. Be sure to cite any references used.
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