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In the year 2011 the prices at which producers sold their output were quite real to those producers. If they had tried to sell their products at 1983 prices their customers and stockholders would have rightly thought the producers had lost touch with reality. Why, then, would an economist calculate the value of 2011 output at 1983 prices and call it “real" GDP?
Compare an owner's personal liability for debts of a business organized as a sole proprietorship, general partnership, limited partnership, LLP, LLC, and S corporation.
Which of the following describes America's current party system?
Suppose the market for good X has a four-firm concentration ratio of 0.50. Furthermore, assume that total sales in the industry are $1.2 million. Based on this information, we know that sales for the largest four firms in the industry equal (in aggre..
The West Oak Park community decided to build a playground with a fair market value of $350,000. The assessment rate is 40% and the property tax rate is 7.5%. Find the property tax due for 2013.
Discuss the new equilibrium price also quantity which result from these changes. Can you exhibit some of these changes graphically.
Demand Pull Inflation: Suppose that the central bank wants to increase output, but the economy is already at the natural rate. Show the short and long run effects of a monetary expansion in this situation in the AD/AS model. You can omit the labor ma..
Describe in detail the mechanics of the Circular Flow model. Discuss how the government and international trade could be included in the circular flow.
The demand curve for videos has shifted to the right. Illustrate what could have caused it.
Peggy Sue's cookies are the best in world, or so I hear. She has been offered a job through Cookie Monster, Inc., to come to work for them at $125,000 per year.
q. recall that is the economy continues to be strong abc company may need to increase its production by about 50
consider an economy in which the amount of investment is equal to the amount of savings i.e. the economy is closed to
On the grounds of economic efficiency, do you think such a proposal to raise taxes on gun and ammunition sales worthy of attention? Discuss in terms of appropriate economic models
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