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Quality Motors is a Japanese-owned company that produces automobiles; all of its automobiles are produced in American plants. In 2012, Quality Motors produced $20 million worth of automobiles, with $12 million in sales to Americans, $6 million in sales to Canadians, and $2 million worth of automobiles added to Quality Motors’ inventory. The transactions just described contribute how much to U.S. GDP for 2012?
Describe three problems of decentralization that occurred under the Articles of Confederation. For each problem you list, identify one solution that the Constitution provides to address the problem.
Identify dilemmas that threaten the future integrity of the U.S. healthcare system. Discuss whether or not there is a need for healthcare reform
The allocation of promotional dollars between ‘pull’ (consumer promotions + media advertising) and ‘push’ varies drastically for many advertisers across countries. What are the factors behind these variations?
If aliens come and take a large percentage of our cows what happens in the market for synthetic leather baseball gloves? (Assume a normal competitive market)(Show the graph, label all relevant points, and explain what happens to price and quantity. E..
If the Federal Reserve adopts a restrictive monetary policy that leads to relatively high interest ratesin United States, what happens to the demand and supply of foreign currency and the dollar's exchange value.
The elasticity of demand for a product depends upon the.....- Manufacturers costs- availability of substitutes, -availability of raw materials- amount the manufacturer is willing to produce? WHY?
What is rent seeking and how does it differ from the kinds of profit maximization and profit seeking that we discussed in previous chapters?
Assume that apples are an inferior good. Draw a perfectly competitive market for apples and a firm selling apples in the long run equilibrium where price is $10 and the firm’s equilibrium quantity is 50. EXPLAIN what happens in the short-run if custo..
Explain how to measure the price elasticity of demand and supply and the cross elasticity income elasticity of demand? Explain how you would calculate the price elasticity of demand for gasoline.
Movie attendance dropped 8 percent as tickets prices rose a little more than 5 percent. What is the price elasticity of demand for movie tickets? Could price elasticity be somewhat overestimated from these figures? That is, could other things have ch..
Economic profit is the difference between a firm's total revenue and its. What is the difference in profit maximization between the perfect competitor and all other types of firms?
q1. what are the main reasons for people to make non-rational choices? is there any specific science that study
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