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Is the perfectly competitive model a good benchmark for an ecnonmic system which uses Biblical worldview? Use Scriptural support where appropriate and also comment on the perfectly competitive model as a guide for public policy. What should be the role of government in the industries characterized by conditions similar to perfect competition?
when they determining an appropriate congestion tax Economist would use which of the following elements of economic way of thinking? thinking at the margin be isolating variables she making assumptions or D All the Above
calculate the breakeven cost of the above air-conditioner with condenser using evaporative cooling if the MARR is 8% p.a.
q.suppose the consumption of gold offers people a marginal utility that diminishes as that person consumes more gold.
Draw the opportunity set of a consumer with an income of $1200 who faces prices of Px = 10 and Py = 5. What is the market rate of substitution between the two goods?
Do economists still believe in the menu view of the Phillips Curve? What view has replaced the original view? Given the new view of the Phillips Curve, why do economists believe that a "credible" inflation reducing policy is less costly than an "incr..
A $200,000 bond having a bond rate of 8% payable annually is purchased for $190,500 and kept for 6 years, at which time it is sold. How much should it sell for in order to yield a 7% effective annual return on the investment?
Money demand shocks will not affect the output level so long as the Fed pegs interest rates. True or false? Use an IS-LM diagram to explain your answer.
Describe the Heckscher-Ohlin model (also known as the factor endowment). How does it predict countries will emphasize their comparative advantage?
What are the characteristics of perfect competition? Why does this type of fast-food restaurant tend to display characteristics of perfect competition? Why might firms in perfect competition choose to be open on Monday, typically the slowest day of t..
Suppose two countries, A and B, with the same production function Y = K? L 1?? . The value of ? is 0.30, the growth rate of population is 2% and the depreciation rate is 5%. Compare both economies to the Golden Rule.
Sweden has a floating exchange rate . It is considered that the output is lower than the potential and there is disinflation which sometimes leads to deflation. Describe the situation using the IS-LM and AD -AS (SAS MAS) model. What can finance minis..
Demand and Supply". Use the linear demand and supply curves shown in the figure to answer the following questions: The economic value of the 10,000th unit is $_______, and the minimum price producers will accept to produce this unit is $ ________.
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