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Since anyone is able to obtain a license, not necessarily the low cost suppliers of archery lessons, and it is not necessarily the individuals with the highest willingness to pay who are able to receive a lesson, what does it imply about the efficiency of the larger economy to which the market for archery lessons belongs?
a. the economy is efficient in consumption, production and output levels
b. the economy is not efficient in consumption, production and output levels
c. the quota prevents the market price from acting as an economic signal
d. Price will act as an economic signal, drawing in more archery instructors.
Oil price shocks lead to large adverse supply shocks in the macroeconomy, infer Dornbusch et al (2008) who define an adverse supply shock as; ‘one that shifts the aggregate supply
Q. Show factors that govern the Price Elasticity of Demand? a. The number and closeness of the substitutes- The more and the better the substitutes, the grater is the Price Ela
Some equipment that costs $1000.00 has a 5-year depreciable life and an estimated $50 salvage value at the end of time. Determine whether to use straight-line or SOYD depreciation.
if your earning records over year has been:Yt=$40000 Yt-1=$38000 Yt-2=34000 Yt-3=$32000 YT-4=31000,What is the your permanet income?
what are the implications of corruption in economy and fiscal policy
what does a weaker dollar to a) raise inflation and contract the economy b) reduce inflation and contract the economy c) raise inflation and expand the economy d) reduce inflation
what wil hapen to the real wage if the nominal wages and prices rise at the same rate per year?
What is the formula for computing for national income in a closed economy with government intervention
definition of cheap money
Question 1 How was the Classical Theory of interest role criticized by Keynes? Question 2 Discuss the barter system that was used in early times in lieu of money Question
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