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How do you explain the rise of Islam to dominance over such a large region, from the 7th to 13th centuries, despite the existence of strong rival religions, supported by powerful empires? Additionally, to what extent were the Arabs, as the initial lead ethnic group within Islam, able to overcome ethnic conflicts and differences within the caliphate?
Bobby is the only man standing next to exactly one handsome man. 4. Clinton is the only man not standing next to exactly one scarred man. Who is fair, handsome and unscarred?
Describe the cost function and explain the difference between a short-run and a long-run cost function. Describe the elements of a cost schedule which can be derived total, fixed, and variable costs. Compare and contrast the short-run cost function a..
Suppose that a firm's production function is Q= min{K,L} . Currently, the wage is w= 8 and the cost of capital is r=8. What is the minimum cost method of producing Q=40 units of output? Suppose that wages fall to w=4. Keeping total cost the same, wha..
If the proposed textbook receives a favorable review, explain how should the editor revise the probabilities of the various outcomes to take this information into account.
An important employment level is called full employment.
Suppose you live in neighborhood of 30 houses with a mean value of $50,000 (PE = $50,000 QE = 30). Your neighbor has just put new landscaping in and re-sided his home. What type of externality is occurring here? Using a graph, show how the free marke..
Illustrate what is the present worth of the planned expenditures at an interest rate of 10% every year
Most macroeconomists believe it is a good thing to taxes act as automatic stabilizers also lower the size of the multiplier.
The price elasticity of demand is: The demand curve for physician office visits is quite inelastic; therefore, a:
Out of fears that the money supply is too large, the Federal Reserve has decided to decrease the money supply. How could the Federal Reserve accomplish this?
If the American auto companies make a breakthroufh in automobile technology and are able to produce a car that gets 70 miles to the gallon, what will happen to the value of the dollar? Use the demand-supply model of the dollar to explain.
Assume that a consumer has the utility function U(x,y) = 3x+y, where x and y represent the quantities of two goods, X and Y. The consumer has I=$60 to spend on the two goods, and good Y costs py=$2 per unit. The price of good x, px, is also exogenous..
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