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What relationship is there between Sierra Leone's Gross Domestic Policy and its economy?
a change in environmental regulation has dramatically raised the price of a substitute chemical that indirectly competes with T3MP. This change undermines the market for the substitute, which is about twice the size of the market for T3MP.
Discuss any problems associated with using majority voting to determine the optimal level of a public good.
Your firm must decide whether or not to introduce a new product. If you introduce the new product, your rival will have to decide whether or not to clone the new product. If you don’t introduce the new product, you and your rival will earn $1 million..
Unstable export markets, worsening terms of trade, and limited access to the markets in advanced countries are just a few of the problems that have plagued nations in Africa, Asia, Latin America, and Middle East. For example, developing countries hav..
What is the "velocity of money"? Why is it important to the macro-economy?
The following ricardo type table shows the labor input required per unit of output in each of the two industries in each of the two countries. Suppose that Germanz is a much larger country in terms of production and income than the UK. In this situat..
Consider an economy in which the amount of investment is equal to the amount of savings (i.e., the economy is closed to international flows of capital).
Suppose that the economist of Corporation XYZ estimates the following long run cost function for a product M that the company produces and sells. What is the total fixed cost? What is the total variable cost function?
Suppose GDP equals $9 trillion, consumption share is 0.7 and the government expenditure share is 0.2. Suppose this economy has a budget surplus of $800 billion. If the government increased the tax income by 15%, find public saving, taxes, private sav..
Identify and explain 3 reasons why incomes differ across households, and why the income gap has increased over the years?
Consider the following market game: An incumbent firm, called firm 3, is already in an industry. Two potential entrants, called firms 1 and 2, can each enter the industry by paying the entry cost of 10. First, firm 1 decides whether to enter or not.
If a product becomes more popular among buyers, then its supply will decrease and its price will rise as shoppers buy more of it from the sellers. If the government grants a subsidy to homebuilders, then the supply of lumber will increase because lum..
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