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1. Which of the following is least likely to be part of the opportunity cost of a college degree?
A. tuition.
B. forgone earnings.
C. room and board charges.
D. None of the above is correct.
2. An increase in the interest rate is expected to cause the optimal level of human capital investment for an individual to:
A. rise.
B. fall.
C. remain unchanged.
Explain the concept of comparative advantage and the principle theories of why trade occurs and analyze and discuss the sources of comparative advantage in national economies.
explain what occurs when a new technology makes another one obsolete in terms of economic profit. consider firm a to be
Output per worker yt = 4kt 1/3, the saving rate is 30 percent, and the depreciation rate is 13.3 percent. Calculate the steady-state values of capital per worker and consumption per worker.
Purchase the machine it is currently renting for $150,000. This machine will require $20,000 every year in ongoing maintenance expense.
Illustrate what evidence does GI present to support the view that Canada had entered a recession
Describe the two major types of administrative agencies: executive and independent. Why is it important to have independent agencies?
Can you think of a product that is a large part of your budget where the price elasticity of demand is very low? Why is it so low? In estimating demand functions, what is the most important thing to remember? Why?
In a market with duopoly, if market demand is P=90-Q find the cournot reaction curves and the qournot quantity solutions in the case where marginal cost (MC=0) and the case where MC=30, what are the monopoly quantities in both cases? and which quanti..
List at least one advantage and one limitation of international trade you encountered in the simulation. Define absolute and comparative advantage in your own words.
Explain how does the existence of money reduce the costs of making transactions, relative to a society based entirely on barter.
Resource demand curves slope downward because?
A piece of equipment that was purchased two years ago for $59,000 was expected to have a useful life of 5 years with a $5,000 salvage value. Since its performance was less than expected, it was upgraded for $20,000 one year ago. Increased demand now ..
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