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Describe how each of the four factors of production contribute to the production of good and services?
Explain the difference between nominal and real variables, and give two examples of each. According to the principle of monetary neutrality, which variables are affected by changes in the quantity o
What role did policies of various government play in influencing the international expansion strategies of both McDonal's and Walmart? please elaborate
How does self-interest help achieve society's economic goals? Why is there such a wide variety of desired goods and services in a market system? In what way are entrepreneurs and businesses at the h
How do a sole proprietorship and a corporation differ?
Determine if the demand for the following products is price elastic or price inelastic, and explain your answer. In your explanation, be sure to include how the necessity of a good and the availabil
Give a basic explanation of how the multiplier concept is computed, including MPC. Assume that the average American's marginal propensity to consume (MPC) is ½, and American producers' MPC is a
Describe the circular flow of income with applicable diagrams in the following-Spendthrift economy, frugal economy, governed economy, open economy and closed economy.
This month Jones Inc. reduced the price it sells its brand of widgets from $2.10 to $2, and SmithCo saw a reduction in the quantity of widgets is sold, down to 900 units. What is the cross elasticit
What is the opportunity cost of increasing the production of manufacturing goods from 20 million to 34 million?
As an industry moves from being a monopoly to a monopolistically competitive one (due to the entry of new competitors as the monopoly's patents expire, for example), what happens to the elasticity
Numerous American political scientist have observed that the U.S Constitution is an invitation to struggle among the three branches of government. An example of such a stuggle is/are?
Explain and discuss the view that, at the beginning of the 21st century in the US, key macro-finance ratios were such that a decade of negligible real returns to stocks was in prospect. Are the key
Assume a machine which has a useful life of only one year costs $2000. Assume, also, that net of such operating costs as power, taxes, and so forth, the additional revenue from the output of this ma
Assume the government cuts its purchases by $120 billion. As a result, the budget deficit is reduced by $40 billion, private domestic saving decreases by $10 billion, disposable personal income decr
What is the difference between movements along IS and LM curves and shifts of the entire curves? What motivates those shifts? Any example from real life? Any recent events that shifted IS and/or LM
What is the difference between contractionary and expansionary monetary policy? What are the pros and cons of using expansionary and contractionary monetary policy tools under the following scenario
Investments are undertaken to earn a rate of return. Describe the return to an investment in a college education. How would you go about measuring the return, how would you decide if it is good enou
When personal computers were first introduced in the 1980s, their price exceeded $5,000. Since then, the price has decreased dramatically. Use supply and demand analysis to explain the price reducti
What roles do physical capital, human capital, technology, and natural resources play in influencing long-run economic growth of aggregate output per capita?
How does the principle of diminishing marginal utility influence your consumption of hot fudge sundaes?
In an economy described by the assumptions of the simple Keynesian Model, the impact of fluctuations in autonomous investment on consumption spending could be
One of the major chains of causation in macroeconomic policymaking is government manipulation of __________ in order to affect __________, and thus ultimately __________.
If government uses its stabilization policies to maintain full employment under conditions of cost-push inflation:
Suppose inventories declined by $1 billion during 2006. How would this affect the size of gross private domestic investment and gross domestic product in 2006?