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Give an example of how the Principle of Opportunity Cost applies to your life. Think of a recent decision you made. It could be a decision as simple as whether to eat out or cook your own dinner, or it could be a decision to quit your job and go back to school. What alternatives did you consider?
Consider a macroeconomic model of an economy in Long Run market equilibrium. Suppose there were a shock which was going to cause a decrease in aggregate demand. a. What steps could a government take in order to avoid the long-run market correction
In a few weeks Professor Smith will be taking his daughter Attilla to the State Fair. Calculate the Marginal Rate of Substitution (MRS).
A rise increase in elasticity of demand will also rise monopoly power.
Describe why some workers are more likely than others to be laid off or have a harder time finding another satisfactory job.
Oil and gasoline prices are a concern in the United States. Why does this economic problem exist from a supply and demand perspective, what can be done to improve resource allocations, and what can government do, if anything
Explain whether the evidence above suggests whether the dollar is appreciating or depreciating relative to the Euro. What is your conclusion? Explain how you come to that conclusion.
Cool-Aire Corporation manufactures a line of room air conditioners. Its break- even sales level is 33,000 units. Sales are approximately normally distributed.
A recent editorial advocated a cut in the payroll tax, with the argument that such a tax cut would "stimulate employment, since employers shoulder half the burden of the tax." Use a graph to illustrate circumstances under which this would and woul..
Show how this tax affects the market for Roquefort cheese in the United States,shifting the appropriate curve and indicating a new equilibrium quantity and market price.
Between your answers to parts b and c, which prices/capacity are best applied from a social welfare perspective? Why?
ANOVA allows us to determine whether variables are related. Regression analysis allows us to investigate the nature of the relationship between two (or more) variables. How are these methods alike and how are they different
"Too Big to Fail" is title of a book and a movie by HBO. It refers to the bailout of the major financial institutions that began in 2008, and at the time there was concern,
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