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Classical economists envisioned that the economy would take care of itself, thus the term "Laissez Faire." John Maynard Keynes said in response to a question, "Have you ever seen anything like this [Great Depression] before in history?" Keynes replied, "Yes, it was called the Dark Ages and it lasted 400 years."
What was Keynes' message in this statement?
Write a 6-page paper on an argument which claims that the best approach for the survival of a database design through time is the consideration for modeling all data as objects following real-life design of objects. For example a tree has certain ..
Which of the following will increase (shift) the demand curve for white flour, an "inferior" good?
Explain how the “incidence” (i.e. “Who pays the tax”) of a per-unit tax on transactions depends upon the slopes of the supply curve and the demand curve. You may utilize graphical analysis to explain your answer as well. What function do private prop..
If a price of corn is $3.00 a bushel, 5000 bushels would be demanded. If the price rise to $4.00, 4000 bushels would be demanded. I know the elasticity is -0.778. If the price of corn rose $5.00 a bushel, what would be the demand for corn?
Should the U.S. government impose tariffs on imports from China given that China artifically deflates the value of the Chinese currency to increase their export sales?
Able Plastics, an injection-molding firm, has negotiated a contract with a national chain of department stores. Plastic pencil boxes are to be produced for a 2-year period. Able Plastics has never produced the item before and requires all new dies. I..
Evaluate the following statements: "A warmer than usual winter produced an abundance of oranges in Florida. This is an increase in supply which will reduce prices. The reduced prices will lead to an increase in demand which will push prices back up. ..
Suppose its GDP grows by 1% in the next year and the budget deficit is again $100 billion. Compute its new level of national debt and its new debt-GDP ratio.
q1. assume which chenyu expects his income to be 50000 per year until she retires. in addition he has accumulated
Please state what you think citizens, governments, and (ideally!?) firms should be doing in the rich countries to help those who live in the rest of the world. You can cite altruistic reasons as well as some springing from self-interest.
Many companies choose to incorporate in the tiny state of Delaware because __________.
Explain the difference between normative and positive economics. Determine which of these statements are normative and which are positive and explain why you place them in the normative or positive category.
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