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Every economy must use some type of rationing system to allocate the scarce goods and services to its citizens. In centralized state-run economies, the rationing system is based on how long you can stand in line, or whether you are affiliated with the ruling powers.
What rationing system do we use in the U.S.?
Do regional trade agreements promote free trade or do they just create another kind of trade barrier? Explain your answer. Why does the WTO permit regional trade agreements when they violate the "most favored nation" principle? Explain your answer. D..
Suppose that a firm’s long-run average total costs of producing an individual income tax return is $75 when it produces 1,000 returns and $75 when it produces 1,200 returns.
Typically, hard economic times decrease nativism. Europeans lead the world in terms of the quantity of genetically modified (GM) foods consumed. Protectionism is where the government protects domestic industry from overseas competition. A dollar toda..
What is the future value in five years of on ordinary annuity cash flow of $2134 every quarter of the year at the end of the period, add on annual interest rate
Banks and savings and loans were allowed to issue NOW accounts nationwide in 1981. An unexpected result was that the relationship between the growth of M1 and GDP broke down. If the relationship between the money supply and the level of economic acti..
Determine a best response to the following: Explain how Fortune 500 companies can use a data classification standard similar to the US Government and how/why it fits with the IT Security Policies already in place.
Suppose that the government decreases spending by $100 billion. What happens to aggregate demand? What is the likely effect on prices and output? Where are the new equilibrium price level and GDP relative to the old levels?
You are given an offer to split a $20 bill. The other player offers you $1. If you accept the offer, you keep the $1 and the other player keeps $19. If you reject the offer, neither of you will get anything. Do you take the offer? How could you take ..
illustrates the likely effect on the marketplace for eggs. Indicate in each case the impact on equilibrium cost also equilibrium quantity.
Assume that the society decided to reduce consumption also increase investment. Explain how would this change effect economic growth.
Spending more time commuting in exchange for a lower monthly rent refers to? a(n): The opportunity cost of going to college for a student receiving a scholarship. Suppose biochemists discover an enzyme that can double the amount of ethanol that may b..
Suppose that the market demand for wholesale coffee beans is given by P = 1200 - 2Q. Suppose that there are 10 identical firms, each with MC = lOq, determine the market supply. Using the market supply solved for in (a), determine the equilibrium pric..
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