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What would be more effective in stimulating the economy? Tax cut or government spending (i.e., fiscal policy)? What about lowering interest rates and increasing money supply (i.e., monetary policy)? If you were the chair economic advisor to the President of the United States, what would be your advice to him? What does the Scripture have to say about money? Do you think that the economic problem we are facing today is partially due to our love for money and being too materialistic?
In spite of significant price increases for gasoline in the last two years, the amount of gasoline consumed has not decreased a lot--does this mean that gasoline is an exception to the law of demand.
John have many ice cream stores located across the nation. John does not like to work evenings and employee Marcy to work the store in the evening for $7.50 each hour.
The federal government is planning a hydroelectic project cor a river basin. In addition to producing electric power, this project will provide flood control, irrigation, and recreational benefits. Find the benefit-cost ratio for each alternative.
A plastic surgeon thinks she can make more revenue by lowering the price of cosmetic surgery.If cosmetic surgery is an elastic service, is she correct in her assumption.
minimum wage legislation increases costs of production (and thus product prices) and creates an excess supply (unemployment) of unskilled labor.
What market structure is used to benchmark allocative efficiency and why do we use it? Illustrate and explain using a diagram
The depreciation schedule for a machine has been arrived at by several methods. The estimated salvage value of the equipment at the end of its 6-year life is $600. Identify the resulting depreciation.
. Consider a consumer who is always willing to substitute four pounds of a generic store-brand sugar for two pounds of a brand-name sugar. Do these preferences exhibit a diminishing marginal rate of substitution between store-brand and producer-br..
If there is asymmetric information what is the optimal strategy for the workers What is the optimal strategy for the firm Is the employment contract between the firm and the workers self-enforcing If yes, why If not, which would be a self-enforcing..
Suppose a firm produces bicycles. Will the firm's accounting statement reflecte the opportunity cost of the bicycles Why or why not What cost would an accounting statement revelat Should current decisions be based on accounting cost
Describe how expected activity times and variances can be computed in a PERT network. Describe a situation in which a project manager would choose PERT for their project.
What key economic concepts underlie the employ of discount coupons by businesses?
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