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What is Keynes's economic model based on? Can you mention some advantages and disadvantages?
For each of the following items, identify whether it is included or excluded in calculating this year's GDP. In each instance, briefly explain why. (Note: since you are not responsible in this course for "Measures of Income" section in Chapter 5, non..
Which of the following events would strengthen the arguments for using an active government stabilization policy, and which would weaken the arguments for active government policy? Explain why in each case. Structural changes make wages adjust more q..
When a monopoly firm is operating in a range of output where total revenue is increasing as output increases, then marginal revenue
Say that in a country the return to schooling is 10% each year for the first four years of school and then 5% each year for the remaining years. Also, say that
What are some of the reasons that some countries that started off with a relatively low level of per capita GDP—like Japan, Korea, and China—are able to grow so much faster than the countries that already have high per capita GDP?
Assume that a machine has a useful life of 20 years, and it loses its value in a "straight line"(i.e. one-twentieth of the original value per year).
A man is Considering investing P 500,000 to open a semi~automatic autowwashing business in a city of 400,000 population. The equipment can wash, an average, 12
Define economic value and social value. Why do organizations tend to focus on the creation of one type of value, but not both?
Suppose that a market is decribed by the following supply and demand equation:
George and John, stranded on an island, use clamshells for money. Last year George caught 300 fish and 11 wild boars. John grew 200 bunches of bananas. In the two-person economy that George and John set up, fish sell for 2 clamshells each, boars sell..
According to an article that discusses the climate for software firms in the San Francisco Bay Area, the success of Instagram “is a tale about the culture of the Bay Area tech scene, driven by a tightly woven web of entrepreneurs and investors who nu..
1. The article by Desmond claims that slavery was not merely an outdated holdover from a previous era but an essential ingredient to our modern capitalist syste
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