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The United States makes up approximately 4% of the world population but generates more than 20% of its income. The most recent number is $52, 587 per person versus a world average of $10, 163. React to this as a Utilitarian, a Rawisian, and personally. Be sure to make clear in each of the first two cases how this reflects that school of thought. Feel free to say whatever you feel like with respect to the third.
As the US baby boomers retire, US government budget deficits are projected to increase significantly. Explain intuitively why the supply curve in the US loanable funds market slopes upward. Begin your explanation, by considering an increase in the re..
Derive the equations for IS and LM curves. Find the equilibrium level of income and the equilibrium interest rate. Suppose government expenditure increases by 50%. Find the equilibrium interest rate and income.
A population dataset is right-skewed and has a mean of 100 and a standard deviation of 5. Which of the following is true regarding the sampling distribution of the mean for a sample size of 1,000?
Illustrate what mix of central bank bond purchases also higher government spending is required to rise income by $6,000 without changing the interest rate
A summary of the organization's main purpose, including the industry, the products or services, the primary customers, the size (annual-revenue/budget), and the outlook for the future.
John operates a small business out of his home and has very little in terms of fixed costs. Answer the next questions (Parts A and B) on the basis of the following cost data for John’s firm operating in pure competition. If the product price is $45 a..
Air pollution control specialists in southern California monitor the amount of ozone, carbon dioxide, and nitrogen dioxide in the air on an hourly basis. The hourly time series data exhibit seasonality, with the levels of pollutants showing patterns ..
Indicate whether the following shocks are real shocks or aggregate demand shocks.
A company produces two main products: electronic control devices and specialty microchips. The average total cost of producing a microchip is $300; the firm then sells the chips to other high-tech manufacturers for $550. Should the company produce co..
Why is the average viewer of TV news or the average reader of a newspaper interested in the fluctuations in prices in the stock marketplace.
Representing Budgets and Preferences: How do you translate from a description to budgets/indifference curves. Optimal Choice: At the optimal bundle what relation does the indifference curve have to the budget line? Risk and Insurance: How do we repre..
Which of the following could be the price elasticity of demand for a good for which a decrease in price would decrease revenue?
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