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1. Discuss the two (2) main tools that a government can use to implement fiscal policy.
2. Explain the difference between the short-run aggregate supply curve and the long-run aggregate supply.
3. Assess one (1) problem associated with using gross domestic product as an indicator of economic growth.
Considering a machine which will have an estimated service life of 10 years with a salvage value of 10% of the investment cost. Its expected saving from annual operating and maintenance costs are estimated to be $60,000.To expect a 15% rate of return..
The owner of a baseball team and local stadium has commissioned a study that showed the demand by fans for stadium seats (per playing date) to be P = 22 -0.2Q, where P is the average price of a ticket and Q represents the number of seats (expressed i..
Laissez-faire is an economic precept because it is based on a model and normative judgments about the relevance of the model to the reall world. Why?
Describe "how" producer surplus is measured?
The hiring rule for the perfect competitor in the labor market is to choose that amount of labor for which the wage rate is exactly equal to
A firm has $2,000,000 in sales, a Lerner index of 0.56, and a marginal cost of $35, and competes against 900 other firms in its relevant market. What price does this firm charge its customers? By what factor does this firm mark up its price over marg..
Two identical firms face linear demand. Market demand is given by P=30-Q. Suppose both firms face zero marginal costs
Please complete a research project and presentation of a commodity, its global implications and all other relevant information. Collect information and data on all relevant aspects of the commodity. That information should include but not be limited ..
A sample of 16 ATM transactions shows a mean transaction time of 67 seconds with a sample standard deviation of 12 seconds. When testing whether the mean transaction time is different from 60 seconds at the 0.05 significance level, choose the best co..
Explain the concept of scarcity and opportunity cost. Give an example of how it is applied in your everyday life - Explain how the exchange rate of Australian
The simple circular flow model shows that workers and capital owners offer their services to firms through the : In the circular flow model, households earn their income in the :
A researcher conducts an experiment on the IQ of one hundred randomly selected only children and finds that their average IQ is 145. Test the hypothesis that the IQ of only children is below 150 at a level of significance of 5 percent. Construct the ..
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