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If the population of the United States suddenly grew because of a large wave of immigration, what would happen to wages? What would happen to the rents earned by owners of land and capital? Provide specific examples to support your answers.
If an individual is taxed at a 17 percent rate for each extra dollar earned, the reference is to the
Assume that the substitution effect is large relative to the income effect. If a tax reform is designed to increase saving, what does it do to the interest rate and spending on capital goods?
Suppose that initially the economy is in a long-run equilibrium with no money growth, no inflation, and πe = 0%. Then, the central bank announces that, starting in the next period (t+1), the money supply will begin growing at 10%/period. What happens..
Which of the following statements are true of using a first-come, first-served basis to distribute goods? Check all that apply. Which system for allocating goods provides the best incentives to allocate goods from lower-valued uses to higher-values u..
It is observed that in an area with a lot of illegal immigration, the average wage of native born workers actually increased. Explain how this could have happened, using economic logic. Also, judge whether this is good or bad for the local economy.
Explain how the global supply chain functions of (a) logistics and (b) purchasing can be used strategically leverage the global supply chains for a manufacturing company producing mobile phones.
Explain Management Information System and how it can help to grow your business and assess the impact of low-quality information on an organization and the benefits of high-quality information on an organization
Explain why, when the price of good changes, the price elasticity of demand is likely to be higher or lower as a longer period of time elapses. Consider as an example the OPEC oil price increases in the 1970s.
Suppose that currency in circulation is $500 billion, the amount of checkable deposits is $1,000 billion, excess reserves are $150 billion, and the required reserve ratio on checkable deposits is 10%. Calculate the money supply, the monetary base, th..
Identify a company in your local or generalized area that you would classify as a monopoly - Explain the key reasons why you classified the company as a monopoly.
Find out statistics on the web from 2004 to present on following indicators of the macroeconomic conditions of the U.S. economy.
According to Marx, is there a tendency for the rate of profit to fall? On what assumptions is this argument based? What are the counteracting forces that may forestall such a fall? What is the “internal contradiction” of “the law of the tendency of t..
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