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For each event given below, respond to the following points using the determinants of demand and supply:
A. Determine whether demand or supply changes or if the event instead causes a change in quantity demanded or quantity supplied.B. State whether the change is an increase or decrease.C. List the determinant that led you to that conclusion.
Events1. The price of oil increases because OPEC reduces oil production.2. The tax on gasoline consumption increases.3. Firms start producing more fuel efficient vehicles and produce fewer vehicles that use fuel inefficiently.4. Summer arrives and more people choose to take vacations.5. The price of gasoline increases.
A HR Director for a medium size public company. Under Americans with Disabilities Act are the following workers entitled to a affordable accommodation and, if so, what would be affordable:
What is the nominal exchange rate in 2013? What is the expected nominal exchange rate for next year? Which currency will appreciate? What is the real exchange rate in 2013? What is the economic meaning of the real exchange rate?
Calculate what happens to the income of workers and orchard owners if the world price of apples doubles to $4. Ectenia has 200 workers who supply their?
Keeping in mind that one must take off work to complete the task who has the lowest oppurtunity cost of completing the task.' Sam, Both have the same identical cost, Teresa.
Exchange in an island economy.robin and terry are stranded on a deserted island and consume two products, coconut and fish. In a day, robin can catch 2 fish or gather 10 coconuts, and terry can catch 1 fish or gather 1 coconut.
What was the relationship between cotton and the slave economy in the antebellum American South. was cotton expansion necessary for the continuation of slavery. Was slavery necessary for the growth of the cotton industry.
Determine which country has absolute advantage in production of tanks and explain why is it this country?
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
What is the quantity of magazines that needs to be sold per month in order for the operation to break-even and what will happen to that break-even quantity
Michigan is offering financial incentives to improve health. Using economic model(s) demonstrate the impact of such policy on efficiency of the medical care system.
Estimate the linear demand equation
If the Federal Reserve buys a $10,000 government bond from an individualin the economy, what is the initial effect on the money supply? What is the ultimate effect on the money supply?
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