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Each day millions of Americans purchase millions of goods andservices. These goods are services are generally readilyavailable, as long as you have the necessary money to purchase them. How is it possible for all of these goods and servicesto be ready for purchase when there is no single person/group incharge of "running" the economy?
Suppose there are three countries in the world. Country A exports $11 million worth of goods to country B and $5 million worth of goods to counrty C, country B exports $3 million worth of goods to country A and $6 million worth of goods to counrty..
The scientific method is more difficult for economists than, say, chemists, because: a-controlled laboratory conditions are more problematic in economics. b-it is difficult to hold other factors that may affect the variables being studied constant in..
Given the following total-revenue function tr=9q-q2 (a) derive the total-, average-, and marginal- revenue schedules from q=0 to q= 6 by 1's
Assume that the Federal Reserve sells government securities from its existing holdings to financial sector and non bank public. Trace by the expected consequences of this secondary market action on banking system
What is the significance of resource pricing. Explain how the factors determining resource demand differ from those determining product demand. Explain the meaning and significance of the fact that the demand for a resource is a derived demand.
Bridget has a limited income and consumes only wine and cheese; her current consumption choice is four bottles of wine and 10 pounds of cheese
Why does the Federal Reserve require commercial banks to have reserves Explain why reserves are an asset to commercial banks but a liability to the Federal Reserve Banks. What are excess reserves How do you calculate the amount of excess reserves ..
Some reject fiscal stimulus measures in all policy forms. Explain what the various limitations are to a successful fiscal stimulus. Be sure to consider the damaging activities and decisions of (a) private corporations, (b) comm..
Lehman Brothers, AIG, Fannie Mae, Freddie Mac and Washington Mutual. Explain the relationship between these companies. Explain in your own words what happened with these companies which caused an international financial crisis.
If the nominal GDP is $559 billion in the base year, and it rises to 577 in year 1, and 605 in year 2, what is the real GDP in each year, given that the price index has risen from 100 in the base year to 104.5 in Year 1 and up to 108.3 in Year 2?
Explain the difference between the demand curve facing the monopoly firm and demand curve facing the perfectly competitive firm.
if the government wanted to use a food tax in order to significantly reduce the quantity of sweet and sugary drinks we consume, this could be accomploshed with a relatively small food tax on these drinks if: demand was elastic, demand was inelast..
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