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a. The Circular Flow Model with Government is another important model for students to understand. a. Please explain what the model shows us.
b. List and explain the assumptions of the model. i. There are 3 assumptions of the Circular Flow Model with Government. You should be able to list and explain each.
c. List and explain the characteristics of each component – be thorough. i. Government sector – list and explain the characteristics ii. Household sector – list and explain the characteristics iii. Business sector – list and explain the characteristics iv. Product market – list and explain the characteristics v. Resource market – list and explain the characteristics
d. Thoroughly explain how each component of the model interacts with the other components – be thorough. i. Explain how all of the sectors and markets interact with each other. You can do this as part of your answer to part ( c) if you like.
There are many economists who defend the notion that the United States has to clean up their trade policies in terms of relationships, agreements and even tariffs- Their justification is that in order to compete, the United States should position the..
If your competitors will follow your price cuts and ignore price hikes, your firm. Sticky prices in oligopoly markets are. Each of the following is a legal barrier to entry into an industry except
Now assume you are an astute student of economics (not a hard assumption, we hope). Although all the arguments for restricting trade have their shortcomings, name the two or three arguments that seem to make the most economic sense to you. For each, ..
For each option calculates the profit-maximizing price and quantity. Which, if any, of these compensation schemes would alter the deadweight loss from monopoly.
The Blue Star Fund assets with a market value of $10.6 million and liabilities of $607,000. What is the net asset value if there are 185,000 shares outstanding? A mutual fund has an NAV of $9.55 with 274,000 shares outstanding. What is the value of t..
Mrs. Smith earns $20 an hour. Normally, she has to drive into St. Cloud from her home (150 miles away) for a medical consultation. The drive is 2.5 hours each way, Mrs. Smith usually has a one-hour wait, and the consultation takes about an hour. Mrs...
Now suppose one big firm comes and buys out all of the firms in the cartel. This monopoly somehow miraculously is able to perfectly price discriminate. How much will this firm produce? What will be the deadweight loss created by this monopoly?
The demand for company X's product is given by Qx = 12 - 3Px + 4Py. Suppose good X sells for $3.00 per unit and good Y sells for $1.50 per unit. a. Calculate the cross-price elasticity of demand between goods X and Y at the given prices. b. Are goods..
The concept of investment in human capital indicates that:
Describe a product that entered the market the past two to three years and succeeded and why it succeeded describe a product that has failed in the past five years what factors influenced the failure.
Illustrate what are some examples of e-mail differences that causes frustration. Has the Weiner developed an effective comparison essay.
What is a disadvantage(s) of setting up a private option in the Beveridge model?
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