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What does it mean to begin to think like an economic naturalist?
Now that you are becoming an economic naturalist from this point on,, discuss the key variables economists use to view their world and tell what each one represents?
According to the author, what Four Pitfalls do most non economists mismanage as they attempt to make important lifetime decisions?
Which of the following is not commonly offered as a reason for protectionism ?
Which of the following are consistent with the efficient market hypothesis? You should spend several hours a day studying the business section of your local newspaper to determine which stocks to add to your investment portfolio.
Find out the equation for the linear supply curve which fits this information. What would the new equilibrium price and quantity be if supply were to increase by 20%.
Suppose that you are a member of the Board of Governors of the Federal Reserve System. The economy is experiencing a sharp rise in the inflation rate. What change in the federal funds rate would you recommend? How would your recommended change get ac..
The Honolulu tourism commission currently proposed a 7% tax on hotel rooms to pay for an outdoor amphitheater.
Given that the US economy production function (to calculate current GDP and potential GDP) is : GDP = Y= F(K,L,N) = 0.04K+0.03L+0.03N. The current GDP is produced with K=200, L=100, and N=100, the full employment GDP (potential GDP) can be potential..
In your opinion, discuss when it makes sense to forego purchasing car insurance (assuming the state did not require it). In your answer, use moral hazard and risk aversion to describe your decision.
To what extent do politicians and politics affect or manipulate markets? Is it a major or minor factor? If it were a major factor, what would happen if such manipulation didn’t take place? If it were a minor factor, do you believe there is a major fa..
What does price elasticity of demand tell us about the impact of a price increase on total revenue? What are some goods with highly inelastic price elasticity of demand and how does governmental taxing policy take advantage of that?
The revenue function R(x) and the cost function C(x) for a particular product are given. these functions are valid only for the specified range of values. Find the number of units that must be produced to break even. R(x) = 200x - x^2; C(x) = 10x + 7..
Mena would like to build a dam in the Grand Canyon of Western US to provide electricity to the nearby urban area of Las Vegas. Suppose the dam costs $800 million to build and is expected to generate $150 million of annual electricity production forev..
What effect does the Dollar depreciation and appreciation have on US trade balance? Explain. Discuss the pros and cons of a fixed-exchange rate regime.
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