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Suppose you compare your income this year and last year and find that your nominal income fell but your real income rose. How could this have happened?
Assume that Wal-mart is the only employer of retail workers in a small town in Indiana. As a local non-discriminating monopsonist, Wal-mart faces a labor supply curve given by: Find Wal-Mart’s Total Labor Cost and Marginal Cost.
Given that the demand for tickets is a binomial random variable with parameters n = 10 and p = 1/2, illustrate how many tickets should she buy in order to maximize her expected profit.
Do you think healthcare spending contributes to the nation's GDP substantially? Explain. Do you think Real GDP reflects adequately our standard of living? why? why not? Share with us how your family and your hospital contribute to the nation's GDP.
All of the net working capital will be recouped at the end of the project. The annual operating cash flow is $71,531 and the cost of capital is 9% What is the project's NPV if the tax rate is 37%?
Draw a graph of the market for chewing gum. What are the equilibrium price and quantity? Mark the equilibrium price and quantity in the graph.
Syncretism is defined in the textbook as a combination of normally differing beliefs. This can mean the combination of religious beliefs or the combination of religious and cultural beliefs. Give two examples of religions, denominations, or sects tha..
In the 1790 Thomas Malthus predicted mass starvation because he believed population would always grow faster than out ability to increase agricultural production. Explain his theory in terms of diminishing returns to labor in the short run.
What can you conclude about relationship between the slope of a curve and its inelasticy? explain in nontechnical way why demand is elastic in the northwest segment of the demand curve and inelastic in the southeast segment
An individual has the following utility function: u(w) = w^.5 where w = wealth. Using expected utility, order the following prospects in terms of preference, from the most to the least preferred: Without doing any calculations, would the certainty eq..
Public health information can be broadcast at a cost of $100. Public health information is a pure public good, in that many people can use the information simultaneously and preventing people from using the information is very difficult. At a price o..
In a presentation about Serbia’s future entry into the European Union, the speaker indicates that the effects of trade creation will be equal to about 2% of Serbia’s gross domestic product and the overall effects of trade diversion will be equal to a..
Using the Internet, research the influenza vaccine, or "flu shot." Use the following to guide your research: What are the economic benefits of the flu shot? Describe one (1) reason why the private market for flu vaccinations would produce an ineffici..
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