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Living in a College Dorm
What effect would a rule stating that university students must live in university dormitories have on the price elasticity of demand for dormitory space?
What impact might this in turn have on room rates?
How does the income approach to measuring GDP differ from the expenditure approach? Explain the meaning of value added and its importance in the income approach. What are the leakages from and injections into the circular flow? How are leakages and ..
You can show that a tax on consumption is regressive using the Keynesian consumption function. Suppose C= 1,000 + .5 Yd, and the government collects 10% of all consumption expenditures in taxes. Calculate the taxes paid by the household earning Yd= 1..
The price of gasoline has fallen recently which has lowered shipping costs for most of the inputs firms use. Determine how this would affect aggregate demand (AD) and/or short-run aggregate supply (SRAS) and the effect that would have on the aggregat..
If ABC's interest rate is 8% and the inflation rate is 3%, determine the present value of the cash flows.
Bob and Jane decide to open their own business selling ergonomically correct office furniture that Jane has designed. Assume they operate this business from leased office space near their home. Is Bob & Jane's economic profit different from their acc..
According to authors Nash, Pretty and Stehouwer in "Let's Win One for the Gipper," which of the following were successes attributed to Ronald Reagan's presidency? Real growth in GDP increased 31 percent. American labor productivity increased 10.6 per..
Using shifts in supply and demand curves, describe how a change in the exchange rate affected your industry. Label the axes, and state the geographic, product, and time dimensions of the demand and supply curves you are drawing.
What are the advantages and disadvantages of being the first mover in an industry? Give some examples of first moverand late mover firms and were they successful?
A street vendor reduces the price of gelato from $3.50 to $2.75, the number of gelatos sold per day rises from 600 to 750. What is the price elasticity of demand for gelato?
Which of the following is necessary in order for a firm to successfully practice price discrimination?
Explain how the law of diminishing returns provides a natural tendency towards competitive balance. [HINT: Think about the impact on competitive balance if an NFL team signed the top 3 quarterbacks in the league. How much would the 2nd and 3rd qua..
Write a well-reasoned argument defending your stance. If deposit insurance were abolished, elucidate how would this change incentive structure facing deposit theory institutions.
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