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According to the World Bank, low-income economies are heavily concentrated in: A)Europe and Africa B)Europe and Asia C)Asia and Africa
In economics, we usually assume that the manager's goal is to: Answer Maximize the firm's sales. Minimize the firm's costs. Maximize the firm's profit. Maximize the firm's stock price.
How an economy's resources are to be owned, how decisions about the resources are to be made
A us dollar cost 7.5 Norwegian kroner, but the same dollar can be purchased for 1.25 francs what is the Norwegian krone/ Swiss franc exchange rate?
Compare and contrast the demand curve for public goods and the demand curve for a private good. Evaluate the impact of the current trend toward the expansion of government services.
If a company invents a process that saves 280,000 per year - how much can the company afford to invest if they need to earn 20% per year and they want to recover their investment over a 10 year period
Suppose that the Fisher hypothesis holds for an economy that an expected real interest rate of 2 percent. For each of the expected inflation rates of 0, 2, 4, 6, and 8 percent, calculate the nominal i
Bob views apples and oranges as perfect substitutes in his consumption, i.e., MRS = 1 for all combinations of the two goods. Suppose the price of apples is $2 per pound
If you now have 62,500$ in your retirement account and you want to retire when the account is worth 2 million, estimate the rate of return that the account must earn if you want to retire in 20 years
How would the following changes in price affect total revenue? That is, would total revenue increase, decrease, or remain unchanged? LO2 a. Price falls and demand is inelastic
A firm is focal point for a set of contracts. Explain the problems that (1) agency relationships, (2) asymmetric information, and (3) adverse selection can introduce to building a successful contract
Suppose Natasha currently makes $50,000.00 per year working as a manager at a cable TV company. She then develops two possiable entrepreneurial business opportunities
In order for Ireland to grow more potatos, wool production must decrease. If wool and potatoes were the only two goods Ireland could produce, this situation is an example of
On the production possibilities frontier graph, the closer the economy's production is to the origin of the graph and the farther away it is from the PPF,
What are the major differences between capitalism, communism, and socialism? B. Discuss the three major economic indicators and how they are indicative of our current economic climate.
Briefly explain whether each of the following is primarily a microeconomic issue or a macroeconomic issue. a. The effect of higher cigarette taxes on the quantity of cigarettes sold
The demand for haddock has been estimated as Log Q = a+b log P+c log I+ d log Pm Where Q = quantity of haddock sold in New England P = price per pound of haddock
The interest rate on a ten-year Treasury bond is 9.25 percent. A comparable-maturity Aaa-rated corporate bond is yielding 10 percent. Another comparable-maturity, but lower-quality, corporate bond has
Which economic system is best suited for handling a crisis of epic proportions (hurricane, flood, blizzard, forest fire, etc.)? Why? Describe and explain why a socialist system might be
Leigh will use 16 connecting cubes to make a model of a playground.The model will be in the shape of a rectangle and will have a heigh of one cube. in how many different ways can leigh make the model
Determine the present worth of a geometric gradient series with a cash flow of $50,000 in year 1 and increases of 6% each year through year 8. The interest rate is 10% per year.
George caught 300 fish and 10 wild boars. John grew 300 bunches of bananas. The 2 person economy that George & John set up, fish sell for 1 clamshell each, boars sell for 10 clamshell each
Suppose the marginal utility of good a is 4 times that of good b but the price of good a is 2 times that of good b, is this point consumer equilibrium?.
Long-run real interest rates are expected to increase. An accountant and an MBA student (who just finished his course ofManagerial Economics) where interviewed regarding the effect on the firm they bo
JG Asset Services is recommending that you invest $1,500 in a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you have when the CD matures?