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SKY 212) Each question should be at least 150 words
1) How are scarcity, choice, and opportunity cost related?
2) What are the effects of an increase in the minimum wage in the U.S. economy? Who would be most affected?
3) Why is elasticity of demand greater for goods that are a large share of a consumer's budget?
4) What is the difference between accounting profits and economic profits? Which of the two concepts is more appropriate for explaining decisions made by entrepreneurs? Explain.
5) Differentiate between the short run and the long run? What is the appropriate time dimension of the long run?
The Cold War was about 'Brink Events', incidents which took the world to the brink of nuclear war. The East-West confrontation over Berlin and Cuba were both brink events which could have resulted in global destruction, but actually had the effect of..
q.an amusement park is considering changing its pricing scheme from a pay-per-ride system to a single opening fee
The initial steady state level of capital per worker in Macroland is 5. The Golden Rule level of capital per worker in Macroland is 8. What must change in Macroland to achieve the Golden Rule steady state? Why might the Golden Rule steady state be pr..
Suppose financial innovations reduce the interest rate differential at a given level of output. How, if at all, does this development affect output
Suppose air travel is a normal good. Also, jet fuel used in commerical airplanes is an input in the production of air travel. If consumers' incomes
How will a significant corporate tax cut (i.e. drop from 35% to 20%) benefit the U.S. GDP? Will it reduce the U.S. government deficit?
Can you think of circumstances in which each industry would exhibit the same capital-labor ratio in both countries.
If a nonbinding price floor is imposed on a market, then:
How is the point of intersection between the PPF and CIC used to determine the standard of living?
A financial market is a broad term describing any marketplace where trading if securities including equities , bonds snd derivatives occurs. Give a detailed acc
xplains with aid of a diagram, effect that such legislation will have/has had on equilibrium price and quantity of labour employed. Also illustrate what can be done to alleviate/remedy any problem that may rise from above laws.
ellen and may can produce two goods in a day breakfast bars and frog food pellets. in a single day may can make 10
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