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Much has been made of the fact that people don't consistently act with scientific rationality. What is meant by rationality? Consider the three "systematic mistakes" discussed in your text.
Americans are known for their long-term love affair with their cars. But as gasoline prices soar and concern about the environment mounts, the need to conserve gasoline has become increasingly clear.
Why is it necessary for all economic system to not only provide poepl with goods and services but also restricts them from getting as much of these goods and services as they wish?
Imagine you were asked to explain comparative advantage to a group of teens:
Can you please give me some ideas about the question above. so that I can write an essay out of these ideas?? I need to turn it in tonight it is so urgent.
Suppose the reserve requirement (R) is 15%. What is the effect on total checkable deposits in the economy if bank reserves increase by $60 billion. Assume E=0
Suppose the French suddenly develop a strong taste for California wines. Answer the Following with words and a Diagram:
You expect to receive a payment of $104 one year from one. Your discount rate is 4 percent. What is the present value of the payment to be received? Suppose that the discount rate is 5 percent what is
One of the most important skills to learn in managerial economics is the ability to identify a good business. Discuss at least four characteristics of a good business.
How long would it take for a lump sum investment to double in value at an interest rate of 1.5% per month,componded continously?
During world war 2, both Germany and England had plans for paper weapon:they each printed each other's currency, with the intention of dropping large quantities by airplane. Why might this have been a
The economy begins in long-run equilibrium. Then one day, the president appoints a new chairman of the Federal Reserve. This new chairman is well-known for his view that inflation is not a major probl
What was the relationship between cotton and the slave economy in the antebellum American South? was cotton expansion necessary for the continuation of slavery? Was slavery necessary for the growth of
A monopoly is considering selling several units of a homogenous product as a single package. A typical consumer’s demand for the product is Q^d = 50 - 0.25P, and the marginal cost of production
Ross, a Canadian resident, purchased a car worth $ 3,00,000 that was produced entirely in China. Does this transaction affect Canada’s GDP? Justify your answer.
What is the meaning of a four-firm concentration ratio? Interpret what four-firm concentration ratio of 60 % would mean. Interpret what a score of 90% would mean for the four-firm concentration ratio
Explain whether you think the supply of the following goods is elastic or inelastic,
Think about one choice you made in the past several days and explain how this could be analyzed using economics concepts such as tradeoffs, opportunity costs, and marginal analysis
The energy Department estimates that domestic demand for natural gas will grow by more than 40 percent between now and 2025. Distinguish between a demand function and a demand curve.
Why is an oligopolist more likely to be able to earn a profit in the long run compared to a monopolistic competitive firm?
Can you tell whether this firm is in a competitive industry and if the industry is in a long-run equilibrium?
The second national bank of fullerton advertises an APR of 14% compounded monthly for student loans. Determine the APY? setup the solution on paper as well as on spreadsheet.
Assume in perfect competition, the function of marginal cost is: MC=3+3Q, and price P = 15. What is the optimal quantity to maximize the firm's profit?
The tennis star had to forfeit the match due to unsportsmanlike conduct.
How is the american auto industry an oligopoly? 2-3 page paper about this .and how the companies differentiate from one another but yet still initially sell the same products: cars.