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Explain in a paragraph what we understand by the term "macroeconomics".
Suppose a friend you know requires a mortgage loan to purchase a house. Your friend can purchase it now or wait until later and is unsure of what to do.
Which are preferable and why, fixed, flexible, or a mixture of the two exchange rates. What nation have officially dollarized their economies.
What is the maximum annual maintenance expense that you could afford to spend on your car over its life in order to reduce the cost of periodic major engine overhauls by $300?
Vaccinating people for measles, rubella, polio, and cholera to substantially increase net social benefits by improving the health and productivity of the population is an example of
a. Derive the firm's demand for labor and capital. b. Derive the firm's cost function, C(wL;wK; Y ). Simplify it as much as possible - one term. c. Derive the firm's supply function.
The national debt has now exceeded 18 trillion dollars. Is fiscal policy that adds to the deficit worth undertaking in the face of so much debt?
Compare and contrast the Debt Crisis of the 1980's to that of today while giving examples and providing at least 3 to 4 high quality references. Work should be with 3 to 5 pages.
Describe how the price system answers the five fundamental questions of economics, and discuss at least two of the short-comings of the capitalist price and market system.
Describe the Diamond-Water paradox and the solution. Explain why price is greater than marginal revenue for a single-price monopolist and how this differs from perfect competition.
Suppose that the price of peanuts falls from $3 to $2 per bushel and that, as a result, the total revenue received by peanut farmers changes from $16 to $14 billion.
a) Explain what is meant by market equilibrium. b) What happens when the price is too high and when the price is too low? c) What market forces bring change?
What was the total amount of withdrawals for the year and what was the net income?
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