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a perfectly competitive industry has... A. A perfectly elastic demand curve B. A downward sloping supply curve C. A perfectly elastic supply curve D. A downward sloping demand curve
The relationship between international aid and economic growth for less developed countries is:
Recently, the House of Representatives passed legislation to increase the minimum wage in the nation from $5.15 to $7.50. What are the pros and cons of this proposal? Provide an analysis based on the demand and supply of labor.
When General Motors devotes $1 billion to new investment (e.g., building new factories, warehouses, offices), who does the saving that is required? Stockholders? Workers? The public? Buyers of cars? It is estimated that the value of our private capit..
Suppose autonomous consumption is $500, government spending $1,000, panned investment is $1,250, and net exports are -$250 and the MPC is 0.8. What is the equilibrium value GDP?
Your firm offers only a preferred provider organization (PPO) with a large deductible, high coinsurance, and a limited network. You pay $400 per month for single coverage. Some of your employees have been urging you to offer a more generous plan. Who..
Management has recognized the effect of changes in the real-world competitive environment and government policies on other industries and anticipates similar events occurring in their industry, so they ask you for a report considering the following p..
Explain how political obstacles (lack of skilled officials, instability, corruption, and constaints by special interest groups) and cultural obstacles (cultural attitudes that discourage entrepreneurial activity and and encourage rapid population gro..
Is an increase in the marginal income tax rate reflected by a shift in the after-tax supply of labor or a movement along the supply curve when the pretax wage rate is on the vertical axis? Explain your answer
Esteez Construction Company has an overhead crane that has an estimated remaining life of 7 years. The crane can be sold for $14,000. If the crane is kept in service it must be overhauled immediately at a cost of $6,000. Operating and maintenance cos..
Can you explain how fiscal policy (making changes to government spending and taxes) would affect aggregate demand (AD)? How do these two mechanisms of expansionary policy differ? What were the major areas of disagreement between John Maynard Keynes a..
One hundred dollar of interest is paid each month on an investment of $10,000. If interest is compound monthly, what is the accumulation at the end of two years?
If an industry has no barriers to entry, no product promotion strategy, a standardized product type, and a very large number of firms operating within it, the industry can be said to have.
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