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Dean's Beans is a local Amherst business coffee from poor farmers in the Third World. How is Dean able to pay farmers higher prices for their coffee? Is his business a charity, or can he run it as a profitable capitalist business?
Explain market efficiency and identify and distinguish between the different types of market structures; compare and contrast the similarities and differences between their characteristics.
Consider a closed economy in which GDP equals $20 billion, consumption equals $13 billion, government purchases equal $3 billon and tax revenue equals $1.
Suppose you hear a politician say, "we should tax business or corporations -- and not the people" How would an economist answer to this question?
In response to continuing financial difficulties of their employers, unions representing workers at U.S. automakers have accepted a two-tiered wage schedule, by which new hires are paid less than the standard union wage. How does this change affect t..
What is the sum of the mean deviations in the distribution (1,3,5,7, 9)?
If price equals average total cost, economic profit will:
Explain how your articles are consistent with your own findings. You need to relate the articles to any of the concepts discussed during the previous weeks: GDP, inflation rates, unemployment, government monetary policies (money supply, exchange rate..
Review the following statement, "Diversity in the workplace is necessary to create a competitive economy in a globalized world."
Developia produces two goods, manufactures and food, using three factors of production: capital, land and labor. The production of manufactures requires capital and labor, while the production of food uses land and labor. What is the effect on the al..
If nominal GDP in a given year is $11,000 billion and real GDP is $10,000 billion, then the GDP Price Deflator is equal to. Marginal cost is the change in _____ cost resulting from a one-unit change in _____.
Cousin Vinnie is a shareholder and an employee in the family business. The directors have no intention of declaring a dividend and putting cash into the pockets of such a questionable person and causing the other shareholders to have a taxable event...
Describes key elements of technology-enabled customer relationship management and outline advantages that technology-enabled customer relationship management has over traditional seller-customer interactions.
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