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Why did some of the formerly Communist countries of Eastern Europe have inflation rates over 100%, while others didn't? Which factor was more important in explaining the differing inflation rates, real money demand or nominal money supply? Why did the countries with high inflation rates allow inflation to get so high?
Katherine advertises to sell cookies for $4 a dozen. She sells 50 dozen, and decides that she can charge more. She raises the price to $6 a dozen and sells 40 dozen. What is the elasticity of demand?
monetary policy is difficult when interest rates are low. for example in the early 2000s the bank of japan lowers the
Distinguish between explicit & implicit costs, giving example of each and what are the explicit & implicit costs of attending college?? Why does the economist classify normal profit as a cost?
two partners own together a small landscaping business in north carolina called summer lawn care. they have been
bullthe table and graph shown below illustrate the demand and supply schedules for television sets in venezuela a small
assume that the government imposed a price floor on wages minimum wage in order to make sure that workers can earn a
There are two goods in the economy, anchovies (a fish) and bananas (a farm product). Draw the economy's production possibilities before and after a natural disaster that lowers the banana harvest but does not affect anchovies.
in your own words explain as and ad curve and the resulting equilibrium. specifically describe why the two curves are
Briefly explain whether you agree with the following statement: "If at the current quantity marginal benefit is greater than marginal cost, there will be a deadweight loss in the market.
Discuss the problems associated with having a persistent vs. temporary current account deficit and determine which one has the greatest long-term implication.
Choose any firm and think about its buying and selling activities -everyone buys and sells, or at least "procures" and "supplies", or otherwise participates in exchange transactions.
As in PS1, consider a consumer with preferences over newspapers (x) and books (y) that can be represented by the quasilinear utility function U(x; y) = x + 2 p y.
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