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Are changes in discretionary and fiscal policy likely to be instituted in a manner that will reduce the ups and downs of the business cycle? Why or why not?
Explain how one of the components of the GDP would help you to predict the amount of inventory to keep in stock if you were the owner of a retail store and were placing a merchandise order for the next few months.
Assume that the u.s. has 400 units of K (capital) and 300 units of L (labor) while Mexico has 75 whits of K and 125 units of L. In both countries it takes 3K/L to produce each unit of X but only 2K/L to produce each unit of Y. Which nation has the co..
Explain what the new equilibrium point means in terms of GDP and the price level. Based on your understanding of the current health of the economy, was this program successful? Why do you say this?
suppose there are two technologies that can be used for irrigation. flood irrigation is relatively inefficient. for
If nothing else changes, what happens to the price and quantity if the supply curve shifts to the right? What is the law of supply? Give two examples of how you have observed the law of supply at work.
According to the statistics the distribution of money income:
Politicians who support the green movement often argue that it is profitable for firms to pursue a strategy that is "environmentally friendly" (for example, by building factories that do not pollute and are not noisy), because workers will be will..
The accompanying graph (top of next page) summarizes the demand and costs for a firm that operates in a perfectly competitive market.
Compute the average product of grain when each amount is used. Determine the marginal product of grain when between 1,200 and 1,800 pounds are fed, when between 1,800 and 2,400 pounds are fed, and when between 2,400 and 3,000 pounds are fed.
Implicit and explicit costs are different in that: implicit costs are opportunity costs; explicit costs are not. explicit costs are opportunity costs; implicit costs are not. the latter refer to non-expenditure costs and the former to monetary pay..
As the plant manager, should you recommend to the owners that the plant be shut down for a while? Justify your answer using at least two techniques and presenting the information graphically
Using the ideas of marginal costs and marginal revenues, describe why economic profits are maximized where marginal revenue equals marginal cost and why profits decline if price is above or below the profit maximizing price.
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