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If in 1984, measured GDP in Canada was $400 billion, and in 1985 it was $440 billion, discuss why we cannot necessarily conclude that the typical Canadian's welfare has improved by 10-percent over
Assume the demand function is Qxd = 100 - 5Px + 2Py - M. If Px = $4, Py = $2, and M = $50, Determine the cross-price elasticity of good x with respect to the price of good y?
Find out who is and is not included in the labor force, discuss how the unemployment rate is calculated, and list and explain the major types or categories of unemployment.
Discuss how does the introduction of cognition into a consumer's choice among the healthy and unhealthy food affect the marginal utility per dollar and the quantity of healthy and unhealthy food co
Could not Ethiopia become a world class producer and exporter of goods? Discuss how would Ethiopia compare with Japan? Japan is a country relatively POOR in natural resources, yet it is an economic
Give an example of a product you have recently purchased in which the price changed. Calculate whether the good was an elastic or inelastic good and explain how you know.
Consider what might happen to demand and supply if a significant number of retailers decided to implement the price-match guarantee.
How much must it pay for each hour it uses its capital if the George Firm is minimizing costs, its RTS is 1.5, and it pays its workers $30 per hour?
Would total consumer expenditure on cigarettes rise or fall in the short run if the government were to impose a tax that raised the price of cigarettes by 5 percent What about in the long run?
John is considering starting a t-shirt company. To do so would require the purchase of a machine to imprint the t-shirts. A corporate "friend" has promised John a one-year contract for 20,000 shorts
Describe a situation in which the outcomes of classroom experiments deviated from standard economics theory. What insights were learned from these outcomes and how are they incorporated into the st
Examine U.S. farm policy with respect to a specific crop. Some interesting crops which will have lots of research and policy analyses are: sugar; corn/ethanol; soy beans; and milk.
Identify the predicted compensation with the productivity of 100. Determine the residual for the observation of the base year, 1992?
Describe the Veblen's theory of the leisure class. Discuss why the leisure class is not overthrown and how conspicuous consumption plays a role in Veblen's theory.
Discuss the major departure of the departure of the Marginal list School from the Classical Political Economists. Discuss how did it change the focus of economics and leave no room for political eco
Describe the goals and motives behind the Utopian Socialist School. Discuss how did their vision differ from Marx's vision of the trajectory of society?
How much did it cost when the dollar value of the rupiah fell by 80 percent if a pound of U.S. pork cost 40 rupiah in Indonesia before the Asian crisis.
Almost all of the fourth-quarter increase in GDP wound up as unsold inventory sitting on shelves. GDP grew at a much faster 4.8% rate in the October-December quarter.
Identify a 95% confidence interval for the slope parameter B2. Is there strong evidence that B2 is greater than 0.65? Justify your answer using the level of significance alpha=0.05.
If an increase in the price of petroleum causes the market prices of tires to rise from $60 to $70, by what percentage would you expect the quantity of tires demanded to change?
One of the most important microeconomic concepts for a strategic thinker is the use of marginal cost and the marginal revenue in decision-making.
Use the demand and supply analysis to demonstrate how the limit on the amount of reimbursement is not the only effective way to decrease expenditures for health care if health care providers succeed
Describe what will happen to the capital labor ratio in both the short run (when capital is fixed) and the long run (when capital can be changed) by using the production theory.
Suppose that the nominal interest rate on a 10 year bond is 10% at home and 6% abroad. Further assume inflation is expected to be 3% abroad and 6% at home. Calculate the expected annual real deprec
Identify the income, own price and the cross price elasticity of good y. Discuss whether the good is normal, ordinary and a substitute or complement of the other goods in demand.