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1. The GI Bill provided educational opportunities to many young men returning from military service. Using a production possibilities curve, demonstrate how the GI Bill affected economic growth and explain your answer.
2. Why is China still poor in per capita terms despite having the second-largest economy in the world in terms of real GDP?
3. Does the political freedom existing in democracies always aid economic grow
4. What is the relationship between savings, capital formation, and consumption?
5. According to Malthus, how do economic growth and population relate to each other?
Explain why government deficits in more troubled countries, such as Zimbabwe or Iran, tend to produce more inflation than deficits in less-troubled countries, such as Japan or United States.
Which of the following statements is consistent with what happened during the Great Recession? Identify whether the following statement is more likely to come from a classical economist or a Keynesian economist. “The recent decline in consumer confid..
Certain environmental laws prohibit EPA from considering the costs of meeting various standards when the levels of the standards are set. Is this a good example of “putting first things first” or simply an unjustifiable waste of resources? Why?
A firm sells its product in a perfectly competitive market where other firms charge a price of $110 per unit. The firm’s total costs are C(Q) = 50 + 10Q + 2Q2. How much output should the firm produce in the short run? What price should the firm char..
The supply of Beetles is elastic. Based on this information, are the following statements true or false? Explain your reasoning. A 10% increase in the price of a Beetle will reduce the quantity demanded by 20%. An increase in consumer income will inc..
Discuss how the two alternatives listed differ on the public-private continuum. Also describe how appropriate public policy might differ as the industry moves.
In order to maximize net benefits, the managerial control variable should be used up to the point where:
Raise or Lower Tuition? Suppose that, in an attempt to raise more revenue, Nobody State University increases its tuition. Will this necessarily result in more revenue?
What factors give rise to increasing returns to scale and decreasing returns to scale? Define and then derive the expression for the marginal rate of technical substitution.
If the total cost of 20 units of a product is $20, and the total cost of 21 units is $21, then from 20 to 21 units of product the: Marginal cost is decreasing. Marginal cost equals average variable cost. Average total cost equals average variable cos..
Also during first year, cookie business made monetary outlays of $9,000. You may assume that re is no opportunity cost to Zach's time. What is economic profit and accounting profit.
The Federal Reserve may increase or decrease money supply depending on the economic condition. What policy instruments does the Fed use for the monetary policy?
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