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In the following examples, state how you would use the principle of marginal analysis to make a decision. a. Deciding how many days to wait before doing your laundry b. deciding how much library research to do before writing your term paper c. Deciding how many bags of chips to eat d. Deciding how many lectures of a class to skip
Draw a graph of the UK labour market that shows the demand for labour, the supply of labour, and the real wage rate in 1973 and 2003. Draw a graph of the UK production function in 1973 and 2003. Make sure your graph shows potential GDP in both year..
Assume you borrow $1 million. According to MM, Illustrate what fraction of the firm's equity will you need to sell to raise the additional $1 you need.
discuss the different economic theories of Milton Friedman. Why was he important? Has he helped or hurt our economy? If he were alive today, what do you think he would suggest as an economic plan for our economy? Would he agree or disagree with th..
Illustrtae what are the primary advantages and disadvantages of acquiring inputs through this means? Give an example that uses this method of procurement.
If capital’s share of income is 25% and labor’s share of income is 75%, the stocks of both capital and labor increase by 50% or there is no technology growth.at what rate will potential output grow.
Consider Bob, he washes his car by hand rather than taking it to the local car wash. When asked why he washes it by hand, Bob explains "you should never pay for something you can do yourself.
Suppose the level of autonomous expenditure, which we could call A, rises by AA. What is the effect on the level of equilibrium national income?
Suppose further that people want to hold 8 percent of their deposits in the form of cash. Then, if the Fed wants the money supply to be $6,228 billion, what is the necessary level of high-powered money?
Economists have estimated the subsiquent transportation elasticities.
For a developing country to increase, it needs capital. The major source of capital in most nations is domestic saving, but the target of stimulating domestic saving usually is in conflict with the government policies targeted at decreasing inequalit..
According to the life-cycle hypothesis, what is the typical pattern of saving for an individual over his or her lifetime What impact does this behavior have on an individual's lifetime consumption pattern What impact does the behavior have on the ..
Determine the profit-maximizing output and price. b. Calculate profits and deadweight loss. c. If this was a monopolistically competitive firm, would your answer in parts a and b change.if this was a monopolistically competitive firm, what would happ..
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