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How does a government budget deficit affect the economy? Identify two periods in recent history in which the United States has run budget deficits. What were the reasons for the deficits dur
Assume you have been hired as a managing consultant by a company to offer some advice that will help it make a decision as to whether it should shut down completely or continue its operations. It curr
US and Canada can both grow wheat and can do mining. Use the following table to look for which country has a comparative advantage in mining. (Hint: Find the cost of mining in terms of whe
To reduce Agency Problems, executive compensation should be designed to.
The constant or intercept term in a statistical demand study represents the quantity demanded when all independent variables are equal to:
Companies that reduce their margins on export products in the face of appreciation of their home currency may be motivated by a desire to
In the first-order exponential smoothing model, the new forecast is equal to the old forecast plus a weighting factor (W) times the error in the most recent forecast.
The original Cobb-Douglas function was given as Q = aLbLl-b. It was subsequently rewritten as Q = aLb1Kb2.
Which of the following statements concerning the long-run average cost curve of economic theory is (are) not true?
Identify the reasons why the quantity demanded of a product increases as the price of that product decreases.
Is the demand for this good price elastic or price inelastic? Justify your classification by talking about the determinants of elasticity as they apply to this product.
Determine the total consumer surplus and the total producer surplus; Label these areas on your Graph.
Think about a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.)
Suppose the Quick Towing Company purchases a new tow truck. The old truck had a book value of $1,000 and was sold for $1,420. If Quick Towing is in the 34 percent marginal tax bracket, what is the tax
The Madison location is the central headquarters for Badger Widgets. They have a full IT staff along with an established network infrastructure that includes Windows Server 2008 servers
Both the buyers and sellers of good x, and the distribution of the benefits will be dependent on the elasticity of demand and the elasticity of supply.
You have been asked to discuss the differences between the microeconomic definitions of supply and demand and the macroeconomic differences of aggregate supply and demand. Discuss what determines supp
Imagine that you are an international reporters. You have been tasked with describing and critiquing the current state of the U.S. economy.
Suppose people freely choose to spend 40 percent of their income on health care, but the government decides to tax 40 percent of a person's income to provide the same level of coverage as before. What
What is the belief that laws are justified if they prevent a person from harming him- or herself known as?
A any given interest rate, business become very optimistic about the future profitability of investment spending. Assume the budget balance is zero.
A site becomes wildly successful in the United States, and you decide to export overseas. Answer the following:
The government decides to tax cookbooks because they feel that they encourage overeating and can lead to health issues, such as obesity and heart disease. Answer the following
Forecast the demand for pizza in your community for the next four (4) months using the regression equation, including the assumptions that were used to create the demand. Justify the as
Calculate the internal rate of return and the net present value to determine the desirability of this investment.