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What are the two main characteristics of a pure public good (for example, national defense)? How is this different from private goods?
Assume Bill and Hillary notice prices are higher in high rent districts. Bill says it's because high rents cause high prices. Hillary says it's because high prices cause high rents. How do I explain who is right and why.
Suppose you own a home remodelling company. You are currently earning short-run profits. The home remodelling industry is an increasing-cost industry. In the long run, what do you expect will happen to
The capital-labor ratio of a cost minimizing firm in the long run indicates explain how a firm should produce its output, not how much output it should produce.
Discuss the limitations of relying on random experiments to evaluate policy impacts and validity of experiments that are actually conducted, and two reasons that it is often not feasible to conduct random experiments in practice.
Draw a set of indifference curves for Jones, and second set for Smith, with alcoholic drinks on vertical axis and non-alcoholic on the horizontal axis.
You have just won a lottery! You will receive $50,000 a year beginning one year from now for twenty years. If your required rate of return is 10 percent,
Which of the following resources receives income known as interest when it is used in the production process? entrepreneurship
During 2003, we began to stop worrying that inflation was a problem. Instead, we began to worry about deflation, a decline in the price level.Assume that the Fed decided to hold the money supply constant.What impact would deflation have on interest r..
Describe the major barriers to entry into a industry. Explain ow each barrier can foster monopoly or oligopoly.
There has been some speculation that tax deductions like as the one allowed for interest on home mortgages will be eliminated or altered.
Illustrate what are the arguments in favor of trade restrictions, and what are the counterarguments. According to most economists, do any of these arguments really justify trade restrictions.
You are a budget analyst in a California State legislative budget committee and have been asked to prepare a policy brief on the budget issue for the state.
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