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Direct-to-consumer (DTC) advertising of prescription drugs is growing rapidly. List several products with which you have become familiar as a result of such advertising. Discuss the pros and cons of
A television station is considering the sale of promotional dvds. It can have the dvds produced by one of two suppliers. Supplier A will charge the station a set-up fee of $1200 plus $2 for each dvd
Change in Income (∆Y) = $1000 billion Change in Consumption (∆C) = $900 billion a) What is the Marginal Propensity to Consume (MPC)? b) What is the Multiplier?
In this question, assume that the euro zone is the home "country" and the United States is the foreign country, which means that the exchange rate e, which has the dimensions of local currency per u
Answer all the given questions in a full and complete manner, providing examples as necessary to fully articulate your view. Problem 1) If the perfect competitor is losing money in the short run, what
Citrus Speculation and Forecasting, Inc., has been hired by a private consortium of orange growers to predict what will happen to the price and output of oranges under the conditions below. What are
Assume initially that the demand supply for premium coffees (one-pound bags) are in equilibrium. Now assume Starbucks introduces the world premium blends, demand rises substantially
Try to include a discussion of elasticity and the demand curve as well as type of market. Make sure you also include some history etc. Specific questions that need to be addressed and graphed are the
For each of the given state whether you would draw an aggregate demand or aggregate supply diagram and predict what shift each situation would cau.se in the AS or AD curve and why so. Assume full em
Based on scientific nutritional studies in most countries, income of $1 a day does not provide sufficient food, shelter and clothing to live. Under these conditions the medical risk of death is high
Question 1. How does trade affect the production possibilities frontier? Explain. Question 2. What other factors can expand the production possibilites frontier. Explain.
Does quantity supplied equal quantity demanded most of the time? If not, what could cause the discrepancy? Is it government interference?
Use the AD/AS model to describe what will happen in the short run and long run to the world real GDP and the price level. Moreover, describe what policymakers could do after this has happened.
Government intervenes in the free market by many different ways. For example, regulators may use price controls, impose taxes on consumers as well as on producers and give subsidies to producers.
Question: There are 4 factors that influence the price elasticity of demand: - The availability of substitutes - The specific nature of the good - The part of income spent on the good
The following problem traces the relationship between firm decisions, market supply, and market equilibrium in a perfectly competitive market.
What is the effect of an increase in the quantity of money? What is the difference between real variables and nominal variables? Are these variables affected by the quantity of money? If so, how?
Problem 1. Compare and contrast the way Keynes and Friedman approach the economy. What are the key differences and similarities?
Externalities are third party consequence of some other action. They can be positive or negative externalities and they impose a benefit or cost to a third party. Identify a positive and a negative
Explain the various terms in the AD curve. What is the value of the simple multiplier? (Hint: the simple multiplier is the change in equilibrium real GDP when some autonomous component of expenditur
Describe when and why central banks buy either their own currency or the currency of another nation in an effort to control exchange rates.
The president of your company, Mr. daily, has asked you to prepare a report explaining the various forms of market structure. He explains to you that the report will be handed out to the staff prior
There is a shortage of college basketball and football tickets for some games, and a surplus occurs for other games. Why do shortages and surpluses exist for different games?
Suppose the governement imposes a price ceiling P(ceiling) of $2 per million BTUs. Determine the total shortage associated with the price ceiling. Calculate the full economic price. How much is the
In exercise, indicate what the price would have to be to represent an effective price ceiling. Point out the surplus or shortage that results. Illustrate a price floor and provide an example of a pr