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Over the past year, productivity grew 2%, capital grew 1%, and labor grew 1%. If the shares of income to capital and labor are 0.2 and 0.8, respectively, how much did output grow?
Who was the first administrator-statesman to attempt planning as a means for economic development?
Jennifer's preferences are described by the following utility function... U=x^1/2+y^1/2. Does jennifer experince diminishing marginal utility? prove your answer mathematically. What is the graph of Jennifer's indifference curve?
Unfortunately, these days, we are inundated with news features in which businesses have violated codes of ethics. What are business ethics and please describe some modern day examples where such ethics have been challenged.
The production function is Q = L^0.25*K^0.25 and the respective unit input prices for L and K are w=4 and r=9. Derive the long-run least cost as a function of Q, and derive the marginal cost and average cost to characterize the shape of the total ..
Use the information in the table to calculate total revenue, marginal revenue, and marginal cost. Indicate the profit-maximizing level of output. If the price was $3 and fixed costs were $5, what would variable costs be? At what level of output wo..
The current worker’s compensation system pays employees who are permanently injured on the job a payment of $X per year, whether they work or not. Illustrate the budget constraint represented by the current worker’s compensation system. Illustrate th..
For the second part, you will choose two economic concepts and explain how each applies to your particular media choice. This part must be in your own words- explain how your clip describes the economic concepts.
What is growth and why is it important? What role does innovation play in growth? Where does economic growth ultimately come from? Why is this? Comment on its impact on real income. How does savings affect growth? Use the Solow model diagram to show..
Using a three-circle Venn Diagram, check the following categorical arguments for validity. Some advertisers try to create a new ideal state for consumers. Some advertisers try to create dissatisfaction with the consumer’s current state. So, some who ..
If this economy were an open economy with a flexible exchange rate, would the usual crowding out forces be supplemented or offset by forces from the international sector
Discuss on how during a period of financial crisis when funds cannot be raised easily or quickly, the fundamental values of some assets can depart from market prices. Explain how this relates to the distinction between loans and securities. Identify ..
For all problems consider a market containing four identical firms, each of which makes an identical product. The inverse demand for this product is P = 100?Q, where P is price and Q is aggregate output. The production costs for firms 1, 2, and 3 are..
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