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Question 1
Who benefits and who is harmed by the market power of Coles and Woolworths? Do you think their dominance will be maintained over time?
Question 2
Do you believe that Bitcoin should be recognised by the Reserve Bank of Australia as a 'genuine' currency? Justify your answer.
Question 3
Using the Keynesian Cross Model, explain the impact of the covid-19 crisis on the macroeconomy. Use diagrams to answer this question.
Question 4
It was recently reported that the world's fish population is under threat due to overfishing. (See the embedded link.) Explain this in terms of the 'Tragedy of the Commons'. How might this tragedy be averted?
Most goods and service that we enjoy are bought and sold in the market. However, leisure is something that we value but we do not buy it explicitly. What is the price of leisure? Explain what would happen to the amount of leisure that we would enjoy ..
Should U.S. antidumping laws be stated in terms of average total production costs or average variable costs?
The stability of fiscal policy. (Blinder and Solow, 1973.) By definition, the budget deficit equals the rate of change of the amount of debt outstanding: δ(t)=?(t). Define d(t) to be the ratio of debt to output: d(t)=D(t)Y(t). Assume that Y(t) grows ..
China has been growing at a phenomenal rate and recently became the second largest economy in the world. Discuss economic reasons why trade with China (both in terms of importing and exporting) is beneficial to the United States.
Explain why a firm's short-run supply curve is the portion of its marginal cost curve that lies above its average variable cost curve.
Four Seasons Hair Salon is the only women's hair stylist in Lake View. A business consultant has estimated its monthly cost functions as follows: TC = 2000 + 80 Q + 0.05 Q 2 MC = 80 + 0.1 Q The firm is faced with the following demand: Qd = 800 - 4 P...
To increase a company’s performance, a manager suggests that the company needs to increase the value of its product to customers. Describe three ways in which this advice might be incorrect (Hint: Think about what else might or might not change that ..
Assume that all expenditure is summarized in the following consumption and investment functions: Identify the equilibrium rate of output (or GDP). If full-employment GDP equals $2700 billion ,what kind of Gap will develop (recessionary or Inflationar..
Write about the problem or issue as if you are explaining it to someone who has never taken an economics class. Be sure to explain the key concepts and terminology of both microeconomics and macroeconomics.
Given two countries (Uganda & Botswana) and two goods (Cars and Shirts) model, suppose Uganda is endowed with ten million workers and each of its workers can produce either five cars or ten shirts per worker. Politicians decide to open to trade. Whic..
Examine the principles of good property investment with respect to the out-of-town retail development.
q. remington inc. purchases a machine that costs 700000 and has an estimated useful life of 10 years a macrs property
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