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Who decides what goods services will be produced and sold in the US?
Ans) It is mostly the American consumer. The US government also plays a big role in the nation's economy, constituting roughly 36% of GDP - making it the major and therefore most influential economic institution and consumer. Manufacturers or those controlling supply may also manipulate demand by advertising and popular media.
While referring to the "EYE on YOUR LIFE" section on page 183 of the textbook, apply this concept to your life. Develop your own policy position on price floors and price ceilings.
1. Nations trade what they produce in excess of their own consumption to: A) generate jobs for the domestic economy. B) earn “good will” from the World Bank. C) prevent chronic sur
How can consumers become better educated about the products they are considering for purchase? To what extent do you personally go to acquire the best information available?
The monetary system in any economy facilitates trade and allows people to trade more efficiently, as compared to a barter economy. In the United States, the monetary authority is t
#types of economic systems
Assume a 5 year equal payment amortization schedule with an annual interest rate of 12% and annual payments. If the beginning is 8,000 then the first interest payment will be how l
An economy has the following parameter values: s ?=.3,d ?=.1,A ?=1,andL ?=100.2 The economy begins at steady state but at some point is attacked by Godzilla, destroying 70% of the
If there are economies of scope and if the price for each product equals marginal cost, is it possible for a firm to cover all its costs? If the firm's average cost of production d
If the price of DVD players decreases, we can expect that the demand for DVDs will: a. increase. b. be unaffected. c. shift left. d. Decrease
How to calculate credit multiplier with the value of deposit, reserves requirement and loan
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