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Question
In order to make a product as advanced as the iPhone affordable to the general public, labor must be outsourced to exploited workers, raw materials must be exploited and consumed, and the price ends up inflated just to create demand. But, when a person buys an iPhone, they only recognize the finished product and not all the individual labor, parts, and exploitation that went into making it. Only the final product matters. This is called what?
1. Graphically show using supply and demand analysis the following situations (Note, only one shift per graph).
A firm sells two goods (X and Y) that are related in consumption. The estimated inverse demand and cost functions are:
Argentina pegged its currency in 1991. Explain why a peg is useful for reducing inflation. Explain
a. Having $500 today is equivalent to having what amount in one? year? b. Having $ 500 in one year is equivalent to having what amount? today?
A firm has a fixed cost of $200 in its first year of operation. When the firm produces 99 units of output, its total costs are $4,000. The marginal cost of producing the 100th unit of output is $700. What is the total cost of producing 100 units?
"An increase in government transfers to households (eg. Unemployment insurance payments) not accompanied by an increase in taxes will cause the economy's level of saving to increase." Indicate whether this statement is true or false and explain why.
Why do you suppose that economists might sometimes disagree about whether to classify as a microeconomic or macroeconomic endeavor the application of big data a
Outline the factors that strengthen and weaken the relationship between the economic cycles of individual economies.
the original manufacturer is deciding whether they should continue production of the toy truck. If the estimated demand is $100,000 trucks, what is the breakeven price for the toy truck? Should you shut down?
“Recent research points to another problematic aspect of international investing as well: When markets are the most volatile and investors most seek safety global diversification is of limited value.”
Is it better to have risk management experience or an understanding of the industry?
What determines the housing price in Beijing? Is it too high or not? Why? (If the housing price in Beijing is too high, it because bubbles or just heavy demand). Your explaination should be clear and logical.
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