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"Looking Back"
Please respond to the following:
• Thinking about everything you have learned in this course, discuss the single most confusing, difficult concept or formula you have encountered, as well as what made it so and the possible impact of an economist not understanding that concept or formula at all.
• Discuss how you would explain what this class was about to a friend of yours pondering taking the same class.
Show the effect of an increase in the price that the government charges for electricity.
movements along the consumption function while changes in wealth lead to a shift of the consumption function.
Illustrate what will happen to the equilibrium quantity also price of a product in a competitive marketplace when the increase in demand exactly offsets the decrease in supply.
Write down John's lifetime budget constraint. Explain how much does he save for the retirement when he is at work.
What is the difference between the optimal level of total consumption minus the amount of total consumption generated by the market
Show long run effect on In Phillips curve diagram. If expectations are rational and increase in money growth is announced, what happens to In short run.
The taxable income excluding depletion is $50,000. Find the allowable depletion charge for that year. Answer $30,161 $25,000 $50,000 $97,500
Is the price mechanism of a perfectly competitive market a good mechanism to allocate gasoline.
To build trust among virtual team members, managers should Deep-six the egos
Define optimistic, most likelys, and pestimistic scenarios buy using both optimistic, both most likely and both pestimistic estimates. Use a life of 4 years as the most likey value. What is the present worth for each scenario
Calculate the breakeven value at the low price of the data item that you consider most likely to be unreliable.
Illustrate distinguish between the functional distribution and personal distribution of income.
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