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There is a robust negative relationship between resource dependence (resource production relative to GDP) and economic growth. List 3 potential explanations for this counter-intuitive result.
Indicate whether the following events would cause an? "increase or a decrease in demand or an? "increase or a decrease in the quantity demanded?" for? cable-based Internet access? service, which is a normal good.
Karen runs a print shop that makes posters for large companies. It is a very competitive business. The market price is currently $1.00 per poster. What is her AFC per poster if she prints 10,000 posters? What is her ATC per poster if she prints 1,000..
Assume that labor demand for low-skilled workers in the United States is: w = 24 – 0.1E where E is the number of workers (in millions) and w is the hourly wage. Assume there are currently 120 million domestic U.S. low-skilled workers who supply labor..
Assume all fixed costs are sunk. The short run supply curve for a perfectly competitive firm is
Suppose Congress had chosen to both increase government spending and raise taxes by the same amount in 2009. What increase in government spending and taxes would have been required to prevent the decline in output in 2009?
Gas prices fluctuate often and in both directions. How responsive do you think consumers will be to the price change when these fluctuations occur due to changes in supply? Why? Use the various determinants of elasticity to explain your answer. How d..
In the early 1990s, Argentina stopped increasing the money supply and fixed the exchange rate of the Argentine austral at 10,000 to the dollar. It then renamed the Argentine currency the "peso" and cut off four zeros so that one peso equaled one doll..
According to crowding out hypothesis, an increase in ---- will lead to increase---- and later on a crowding out of (a decrease in)------
How would this change the consumer and producer surplus? Suppose a price floor of $16 was imposed. How would this change the consumer and producer surplus?
Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per year job as an accountant. Calculate your aunt's expe..
Suppose the quantity demanded for a security is BD = 150 - 0.1b, and the quantity supplied of the security is BS = 50 + 0.1b, where b is the price of the security in dollars. Suppose that the supply curve shifts to BS = 75 + 0.1b. The equilibrium qua..
q. suppose that the mpc 0.8 and that 14 trillion of real gdp is currently being demanded. the government wants to
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