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Due to a growing US economy, the overall market demand for nails will increase by 2%. Based on this information, should you plan to increase or decrease your production of nails? Explain
Suppose that under the Bretton Woods system, the dollar is pegged to gold at a rate of $35 per ounce and the pound sterling is pegged to the dollar at a rate of $2 = £1. If the dollar is deva
The demand for good X has been estimated by Qxd = 12 - 3Px + 4Py. Suppose that good X sells at $2 per unit and good Y sells for $1 per unit. Calculate the own price elasticity.
Suppose that butchers and bakers had no unions. Now suppose the butchers form a union. What does this do the labor supply of and wages of bakers?
Clearly identify at least three such factors that in your view should be included in the GDP calculations. Explain and illustrate how they will help to improve the GDP as a tool for measuring the w
You have a choice of opening yor own business or being employed by someone else in a similar type of business. List 4 consideration in terms of opportunity costs that you would have to consider bef
Show on a supply-and-demand diagram and explain in words what will happen to the Canadian exchange rate compared to the foreign exchange rate when the world demand for lumber, wheat, and paper incr
Identify in 500 to 700 words specific aspects of cultural systems in the U.S. that Americans should not presume exist in other countries in regard to:
What are the major determinants of price elasticity of demand? Use those determinants and your own reasoning in judging whether demand for each of the following products is probably elastic or inela
Suppose that the cost function of X is given by: C=500-10X+(25X^2). Find the variable cost (the part that varies with the quantity X). Find the fixed cost (the part that does not vary with the quantit
Please comment on whether the estimated function in question 1 is a good fit or not. What is the interpretation of coefficient of determination (R-square)? Does the regression show overall signific
Makers of Tylenol pain reliever do a lot of advertising and have loyal customers. Makers of generic acetaminophen do not advertising. Which company has the bigger incentive for careful quality cont
What are some examples of e-mail differences that causes frustration? Has the Weiner developed an effective comparison essay,Why or Why not?Provide examples to support your opinion
A local pizzeria hires college students to make pizza, wait on tables, take phone orders, and deliver pizzas. For each situation described, determine whether the demand for student employees by the
How do firms and individuals determine if it's worth it to (a) invest in capital improvements, (b) hire additional workers, or (c) decide where to work? Briefly explain.
. What kind of gap-inflationary or recessionary-will the economy face after the shock, and what type of fiscal policies, giving specific examples, would help move the economy back to potential outpu
Assuming the existence of economies of scale, if a firm finds that it can reduce its unit cost by decreasing its scale of production, it means that
Calculating Average Propensity to Save and Average Propensity to Consume-A nation's consumption function (expressed in millions of inflation-adjusted dollars) is C = $800 + 0.80Y. There are no taxes
Identify and explain five major factors that affect the demand for starbucks. What do you think will happen to these factors over the next year?
Why is there such a wide variety of desired goods and services in a market? In what ways are entrepreneurs and businesses at the helm of the economy but commanded by consumers?
Consider a firm with the following production technology q=k^1/2 l^1/2 . The market price Of the firm"s product is p=1 and rental rates of capital and labor are given, respectively, by r and w.
The first is the existence of diminishing marginal product, which causes it to rise. What would be the second reason? Assume that the marginal cost curve is Linear. (hint: the second reason relates
Calculate points on the aggregate demand curve when the price level equals 0.8, 1.0, 1.2, 1.25, and 1.5, given the initial value of the nominal money supply.
Why does a system of marketable pollution lead to less costly pollution abatement and a higher concentration of polluted areas than a command-and-control system.
According to the mathematical laws that govern the relationship between average total cost and marginal cost, where must these two curves intersect?