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Noted economic expert Dr. Melonhead recently stated "since in very long-run equilibrium we have achieved a steady state we should hope to never get to such an outcome since we will all face a stagnating standard of living". Is this statement true, false or uncertain? Note the bulk of the grades are associated with your explanation rather than a "guess" as to which case to pick.
Illustrate what cost as well as quantity will result once the patent expires and competition emerges in this market.
Identify at least four (4) key points of a relevant economic article from either the Strayer Library or a newspaper.
What are the opportunity costs of NOT providing for national security? Your posting can examine nonmonetary and/or monetary aspects of this situation.
Suppose that Antonio, an economist from an AM talk radio program, and Caroline, an economist from a school of industrial relations, are arguing over government intervention. Caroline: The usefulness of government intervention in the economy is a long..
conomists do not usually develop theoretical models of the economy but only analyze summary statistics about the current state of the economy.
Consider a labor surplus economy producing a single output, which can be consumed (as food) or invested (as capital). Labor, once employed, must be paid a fixed wage w which is fully consumed. All surpluses from production are reinvested. Draw a diag..
Assume that there are three types of teams in Major League Baseball: large market, medium market and small market. Each of these types has ten teams for a total of 30 teams. The demand function for each type of team is: What is the price Major League..
According to Institutionalists the two ways of knowing are ceremonial and instrumental. Explain the differences between these ways of knowing and explain how they inform the analytical method known as The Veblenian Dichotomy.
The Financial sector of the economy: US farmers and ranchers who do not export thier products:
The following graph represents the demand and supply for an imaginary good called a pinckney. The black point (plus symbol) indicates the pre-tax equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (st..
Suppose that Elsa's preferences over baskets containing gasoline (good x), and food (good y), are described by the utility function U (x; y) = xy + 100y. The marginal utilities for this function are, MUx = y and MUy = x + 100: Use Px to represent the..
Suppose Russia's GDP increases at a faster rate relative to its trading partners over the course of the year. What will be the immediate impact on Russia's balance of trade?
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