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Suppose that, as part of an international trade agreement, the U.S. government reduces the tariff on imported medical supplies. Will this affect the supply or the demand for medical supplies? Why? Which determinant of demand or supply is being affected? Show graphically with before- and after-curves on the same axes. How will this change the equilibrium price and quantity of coffee? Explain this reasoning and show graphically
A Monopolist. is constrained by a downward-sloping demand curve. has no incentive to worry about the quality of its product.
Allocation schemes can be based on
If he deposits %5000 each year, how much will his daughter be able to withdraw each year starting in year 18 and continuing through year 22? Assume the account earns interest at 8% a year.
When households own capital directly, capital income is in the form of rental payments to households.
What are the ten principles of economics? What do principles of economic say about important microeconomic issue such as incentives, opportunity cost and trade?
Modern psychologists and management experts have been seriously studying the communication patterns or systems in organizations.
What are the differences between Capitalist, Socialist, Fairness, and Libertarian notions of justice? What are the strongest and weakest parts of each theory?
Draw the indifference curve for perfect complements where the the utility function is given by U=MIN(X,5Y). Sketch the curve for utility levels 1,3 and 5
1-provide a well-explained definition of industrial economic regulation.2-provide a well-supported explanation of how
Suppose the full-employment level of real GDP is increasing at a rate of 3% per period and the money supply is growing at a 4% rate. What will happen.
Failure to understand elasticities can lead to expensive mistakes by business managers in making important business decisions. Discuss this statement by referring to any one of the concepts of elasticity with suitable examples (price elasticity of de..
Why did the Fed do little to help the U.S. economy recover from its depression during the early thirties?Discuss the debate over whether the expansionary monetary or fiscal policy would have successfully pulled the U.S. economy out of the Great Depre..
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