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1. "[An economist] is someone who knows the price of everything and the value of nothing." (Adapted from George Bernard Shaw.) Discuss.
2. Coffee beans cost only a few cents when imported. But to buy a coffee at a coffee bar costs far more. What does this tell you about value added?
3. Try to explain to someone who had never thought about measuring the value of economic activity why the output, income, and expenditure ways of measuring national pro- duction should give the same answer. It helps to think of a simple economy producing only two or three different things.
Give an actual case of an American publicly traded firm that had a whistleblower on its case. What happened? Was there a utilitarian justification on both the micro and macro levels?
What type of economic environment appears to be best for developing countries seeking to promote their own growth and development through engagement in the global economy?
Fairfield began a living wage that paid all landscapers in the city a wage above the current market wage. Vacaville, a neighboring city, did not begin a living wage. Below are employment date for the year before and the year after the living wage ..
In both oligopoly markets and monopolistic competition with differentiated products Select one: There is easy entry and exit. Economic profits may be earned in the long run
Given the following monopolist demand and cost curves, QD= 1000 - 2P TC = 5,000 + 50Q
Define contractionary stabilization policy, expansionary stabilization policy, and the assigned stabilization policy
Westside Plumbing and Heating Company is offered a contract for $100,000 to provide plumbing for a new building. The labor and equipment costs are calculated to be $60,000 for fulfilling the contract.
Because of the free-rider problem: the market demand for a public good is overstated. the market demand for a public good is nonexistent or understated. government has increasingly yielded to the private sector in producing public goods.
assume that you have been appointed as the speaker of the house. you must deliver a speech about the current state of
Given that milk and cookies are complements, suppose the price of flour (an ingredient in cookies) rises. What happens in themarket for milk. In a competitive market, when price is below the equilibriumprice, there will be pressure for the price to.
Suppose that the economy of Tunisia in which there are two products, Determine dollar value of gross national income in Tunisia evaluated at exchange rate?
Presume that in the absence of trade, the U.S. price for bicycles was higher than the world price for bicycles. Would allow international trade, mean that the U.S. would import or export bicycles? Who in the U.S. would benefit and who would lose with..
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