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What are the shortcomings of GDP as a measure of economic welfare? Discuss 3 other social indicators that can be used with GDP to measure welfare.
There are 4 types of externalities considered by economists. Positive consumption externalities, negative consumption externalities, positive production externalities, and negative production externalities. You are asked to perform a market analysis:..
What is the cause of the high unemployment rate? One side says there is not enough government spending. The other says it's a structural problem--people who can't move to take new jobs because they are tied down to burdensome mortgages or firms that ..
General Cereals is using a regression model to estimate the demand for Tweetie Sweeties, a whistle-shaped, sugar-coated breakfast cereal for children. The following (multiplicative exponential) demand function is being used: Determine the point price..
In general, explain the connection between a Happiness or Utility function that exhibits Diminishing Marginal Utility or Happiness, on the one hand, and risk-aversion, on the other.
Suppose that the economy moves from point A to point B because of increases in costs of production. The central banking authorities respond to the decline in output by implementing an expansionary monetary policy, which causes a further increase in t..
Assume which all other banks hold only the required amount of reserves. If Nan Bank Inc. decides to reduce its reserves to only the required amount, by how much would the economy's funds provide increase.
Problem associated with second video: Demand with Cobb-Douglas utility function. What is the optimal consumption bundle for the workers? What utility do they obtain?. Graph the indifference curve that goes through the optimal consumption bundle. In t..
Use the following economy for the next 15 questions. Use 2009 as your base year for any calculations where a base year is needed. What is the growth rate of nominal GDP for 2008? What is the inflation rate for 2008? What is the inflation rate for 20..
Kathleen likes avocado also crab dip. After eating avocado also crab dip with four crackers, she switches to cheese with crackers.
Why are entrepreneurs willing to supply goods and serices for consumers at attractive price - Is it because they care personally about the consumers?
What are the factors that affect the supply and demand of that good or service. How do you expect the demand and supply of that good or service to change in the next year.
React to the topic by summarizing a significant chapter and/or readings and an application of that chapter material to the subject. Adam Smith and Thomas Malthus had entirely unmistakable perspectives about the eventual fate of capitalism. Condense e..
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