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When an economy is at full employment, the Production Possibilities Frontier illustrates which Principle of Economics: A. Prices rise when the government prints too much money. B. Trade can make everyone better off. C. People respond to incentives. D. The cost of something is what you give up to get it
If the incremental federal income tax rate is 34% and the incremental state income tax rate is 6%, what is the effective combined income tax rate (t)? if the satiate income taxes are 12% of taxable income, what now is the value of t?
Firms can have: Accounting profits and economic losses, Accounting profits and economic profits, Accounting losses and economic losses, Accounting losses and economic profits.
What is the EV(expected value) of option 2? If you are risk-averse, which option should you choose? Explain. Describe two factors discussed in class that lead to competitive imbalance within a sports league. Under what circumstances would an economis..
q. 1. clients to live theaters inc. can be partitioned into 2 groups seniors and everyone else. the converse demand
Suppose the MCs for the following two tennis ball suppliers: MC1=3+0.5Qs, MC2=5+0.5Qs. Drive and graph the aggregate supply curve. If the price of the product is $4 per unit, can each of these producers stay in business?If yes, how much will each pro..
A pharmaceutical firm faces the following monthly demands in the U.S. and Mexican markets for one of its patented drugs: QUS = 300,000 - 4,000*PUS and QX = 240,000 - 7,000*PX where quantities represent the number of prescriptions. Estimate the profit..
Mary's credit card situation is out of control because she cannot afford to make her monthly payments. She has three credit cards with the following 1 loan balances and APRs: Card 1, $4,500, 19%; Card 2, $5,700, 23%; and Card 3, $3,200, 15%.
In a system in which there is an administered exchange rate, what is the term used when the government sets the rate higher to buy fewer units of foreign currency?
The fact that the firms in an oligopoly are mutually interdependent means that each firm:
The theory of purchasing power parity say-The real exchange rate is always greater than one-The real exchange rate is always less than one
Walmart is laying off cashiers, and increasingly adopting the policy where customers must use self checkout or pay a fee. Jason Clarke is the manager of a Walmart. There are 20 cashiers and 8 self-checkout stations in this store to serve 1000 custome..
In the United States, the distribution of income is more equal than the distribution of wealth. Explain this idea and address how reducing inequality could be a macroeconomic goal. Finally, what insights would Marx provide on understanding why inequa..
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