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"If you want to know what is going on in an organization, look where the money is going." Explain.
Pat used to work as an aerobics instructor at the local gym earning $35,000 a year. Pat quit that job and started working as a personal trainer. Pat makes $50,000 in total annual revenue. Pat's only out-of-pocket costs are $12,000 per year for rent a..
In each of the following cases, in the short run, determine whether the events cause a shift of a curve or a movement along a curve. Determine which curve is involved and the direction of the change.
Assume that the production function is given by Y = AK0.5L0.5, where Y is GDP, K is capital stock, and L is labor. The parameter A is equal to 10. Assume also that capital is 100, labor is 400, and both capital and labor are paid for their marginal p..
When Betsy goes to make her list for tomorrow she is upset that she didn't get everything done. In a well-written paragraph explain the economics behind her inability.
increase because the total amount of human capital in the country will increase as the new owners learn how to farm.
Analysis of the balance of trade and the financial flows between domestic and foreign entities. Imports and exports vital to Viet Nam’s GDP will be examined.
Private savings, government savings and the national savings of the economy V. Is private saving the same as aggregate investment?
Consider the competitive equilibrium for an exchange economy. If the endowment of each person increases by 10% for each good, everyone is better off at the new competitive equilibrium since everyone consumes more of each good.
Ten firms compete in a market to sell product X. The total sales of all firms selling the product are $2,500,000. Ranking the firms’ sales from highest to lowest, we find the top four firms’ sales to be $400,000, $325,000, $245,000, and $185,000, res..
Bertie’s Boards has 2 factories in Malibu and Denver that were originally dedicated solely to skateboard production. As it turns out though, each of the factories could be used to produce both skateboards and surfboards. Draw the overall production p..
What is the difference between economic profits and accounting profits, and how does this difference matter for actual business decisions?
Draw a production possibilities model with 4 points labelled A, B, C, D, one inside, two on, and one outside the production possibilities curve. Explain the 4 points in terms of scarcity, choice and efficiency. Draw a production possibilities model w..
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