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A) Describe the four Supply Factors associated with economic growth.
B) Which of the Supply Factors do YOU believe will be most important for the future growth of the U.S. economy? WHY?
C) Briefly explain what we mean by labor productivity. What is its most important determinant?
What two policies could you use to reduce the total amount of emissions and why do you think they each would work?
Find the Cournot solution for the market price and output of mineral water and illustrate with a simple graph and the marginal revenue function facing a monopolist is given by: MR = 200-20Q Demonstrate that firms A and B have an incentive to coopera..
What three things must equal price in a long run competitive equilibrium What adjustments occur if any of these doesn't hold How are each of these things brought into balance with price
1. the production possibilities schedule showsa. the resources available to the economy.b. the maximum combinations of
Calculate the money supply, the currency deposit ratio, the excess reserve ratio, and the money multiplier.Suppose the central bank conducts an unusually large open market purchase of bonds held by banks of 1400 billion due to a sharp contraction i..
By specializing in the production of particular goods in which it has a comparative advantage, a nation is:A) less likely to make efficient use of available resources.
You're an entrepreneur and you've opened a restaurant in a nice area of town. Describe at least two long run decisions which you require to make about the business.
firms that compete with each other cournot game with identical cost function mc0 and the inverse demand py100 - y where
where L1 is the number of workers employed in Sector 1 and L2 is the number of workers employedin Sector 2. The total number of workers in the economy is 1,000. The only difference between the sectors is that in Sector 1 workers are paid their mar..
Assume that you are leaving a message in a time capsule to be opened 100 years from now. Formulate a message you leave regarding the economic times of your lifetime and what could have been done to make our economy better.
Find out if, for the good marked with ALL CAP lettering, if there is the increase or decrease in demand.
"It is Adam Smith's greatest contribution that he recognized in the social world of economics what Isaac Newton had recognized in the physical world of the heavens: a self-regulating natural order." Paul Samuelson a. What was that "self-regulating..
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