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Should the American economy seek to provide the population with income equality or equal opportunity? What are the differences between these two concepts?
What should be the foreign policy when it comes to assisting less developed countries? Direct foreign aid or foreign investment? What obstacles might exist from attempts to assist less developed countries with economic development?
Using supply and demand analysis, show graphically and explain verbally 3 factors that may have led to rising health care costs in the United States from 1960 to the present day.
Now suppose the world relative price of cars is PC /PTV = 1. In what good will each country specialize? Briefly explain why.
An energy company orders metric tons of liquid natural gas that is used at the rate of 1,000,000 metric tons per year. Delivery lead time has averaged 8 days. What is the economic order quantity (in metric tons)? What is the total holding cost for th..
Suppose the own price elasticity of market demand for retail gasoline is -0.5, the Rothschild index is 0.4, and a typical gasoline retailer enjoys sales of $1,550,000 annually. What is the price elasticity of demand for a representative gasoline reta..
Which of the following changes would lead to a change in production function? More Machines, better ideas, savings rate, output, depreciation rate? More than one choice can be chosen.
Use your answer to part (a) to predict whether each factor will have any incentives to lobby the policy makers for protection (the imposition of the tariff).
A truck for hauling coal has estimated net cost of $55,000 and expected to give service life of 250,000 miles with salvage value of $5,000. Compute the allowed depreciation amount for truck usage of 30,000 miles. (Hint: Consider miles equivalent to t..
The overall effectiveness of the organ procurement system in the United States. What are its strengths and weaknesses.
Suppose that the market demand is Q = 100 - P First, consider a competitive industry where MC = AC = 20 for each firm in this industry. What is the equilibrium quantity Qc in the market? What is the equilibrium price Pc? What is the consumer surplu..
Suppose that the demand curve (hundreds) for apples is given by Qd = 140 - 5P, where Qd is the number of pounds demanded per year and p is the price per pound. The supply of apples can be described by Qs = 40 + 5P, where Qs is the number of pounds pr..
Some, like Santander, have quietly expanded into or business lines; its consumer-credit division is Europe's biggest car financier. What is next.
Borrowing from Kalleberg, Lazonick, and Meyerson’s “How the American South…”, and “Forty-Year Slump,” compare and contrast the two macro employment systems (1945-1975 and 1975-present) in terms of key employment outcomes and indicate which system und..
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