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Q. Define inflation. Assume that you live in a simple economy in which only three goods are produced and traded: fish, fruit, and meat. Suppose that on January 1, 1998, fish sold for $2.50 per pound, meat was $3.00 per pound, and fruit was $1.50 per pound. At the end of the year, you discover that the catch was low and that fish prices had increased to $5.00 per pound, but fruit prices stayed at $1.50 and meat prices had actually fallen to $2.00. Can you say what happened to the overall "price level?" How might you construct a measure of the "change in the price level?" What additional information might you need to construct your measure?
Illustrate the way in which market forces shape the organizational responses using a range of examples.
If you had the power of the President, Congress, and the Federal Reserve, what would you do to stimulate the U.S. economy which is barely growing?
Clearly evalute at least three such factors that in your view should be included in the GDP calculations. Explain and illustrate how they will help to improve the GDP as a tool for measuring the well-being of a nation.
During World War II, both Germany and England had plans for a paper weapon: they each printed the other's currency, with the intention of dropping large quantities by airplane. Explain why might this have been an effective weapon.
Graph the dynamically efficient market for two periods on one graph and graph the dynamically efficient market for each period on it's own graph. Suppose the government sets a price control equal to 20.
Briefly critique the attached article in no more than the equivalent of 3 pages , focusing on the key environmental implications and economic arguments, with your personal reactions included.
q.to keep gasoline expenses edith as well as mathew agreed to carpool jointly for traveling to as well as from work.
Compute how this policy affects consumer surplus, and the cost of pollution. Would you recommend this policy.
1). List three businesses that can exist today, because of the World Wide Web that could not have existed before the advent of this technological communication system. 2). How has the World Wide Web supported the establishment and functioning of th..
hat drug is nearly through clinical trials, and is expected to produce an acceptable return on the investments that have been and will still need to be made in it.
If firm A expects firm B to set its price at $20, what is firm A's best response? If firm B predicts that firm A will price good A at $36, what is firm B's best response? What is the NASH EQUILIBRIUM price and quantity for each firm?
ALL colleges of business today also was 1st proposed as a factor of production by a classical economist less than 40 years after Adam Smith.
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