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How have you responded to increases in the price of gasoline over the past few years? How would you respond if the price of gasoline doubled over the next two years?
What alternatives do you have for buying gasoline? Could you change to zero consumption of gasoline in the short run? In the long run?
In the short run, when the price of gasoline increases, what happens to the income you have to spend on other goods?
Try to use concepts seen in this unit such as budget constraint, income and substitution effects, etc. in your answer.
Now suppose there is another country called Lotech which has not seen the innovations in credit cards and ATMs that Hitech has. If the rate of money growth and the growth rate of real GDP were the same in Hitech and Lotech over this period, then h..
Which of following is necessarily true regarding total utility (TU) and marginal utility (MU)?Newspaper vending machines are often built so that customers can pay to lift a door and take a paper off a pile of daily newspapers. Newspaper distributor..
"Government spending is taxation. When you look at this, I've never heard of a poor person spending himself into prosperity; let along I've never heard of a poor person taxing himself into prosperity. Mr. Jones sends his daughter $500 for a semest..
dakota publishers prints coffee table photo books of the great plains and mountain states. the marketing manager
the president and chief executive officer of a family owned manufacturing firm with assets of $45 million. The company articles of incorporation and state law place no restrictions on the sale stock to outsiders. An unexpected opportunity to expan..
draw a graph of the value function used in prospect theory. carefully label the graph and explain each part of it and
Bridget has a limited income and consumes only wine and cheese; her current consumption choice is four bottles of wine and 10 pounds of cheese
Textbook publishers have traditionally manufactured both United States and international editions of most leading textbooks. The United States version typically sells at a higher value than international edition.
Given the products below and the events that affect them, indicate what happens to demand or supply, and the equilibrium price and quantity. Identify the determinant of demand or supply that causes the shift.
Can you identify factors that led to our country's trade deficit? Do you believe our country has developed a great dependency upon foreign goods and natural resources in which manufacturing and production have been hindered domestically as a resul..
The article must be representative of the economic issues represented by the topics or focus. The article review must include a brief summary of the facts in the article using economic terms.
Think the single-index model. The alpha of a stock is 0 percent. The expected return on the market is 12 percent. The risk-free rate of return is 6 percent.
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