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The manager of All City Realtors wants to hire some real estate agents to specialize in selling housing unit acquired by the Resolution Trust Corporation (RTC) in its attempt to bail out the savings a
Which of the following is considered a cause of inflation? A. Producers raise prices to meet higher costs. B. There is not enough money in the economy. C. Demand is less than supply.&nb
Why is representative money more useful than commodity money? A. Representative money has value because the government says it does. B. Representative money exists in unlimited supply,
What is the economic term for productive resources that provide a means for society to produce and distribute its goods and services?
Bank A has a leverage ratio of 10, while Bank B has a leverage ratio of 20. Similar losses on bank loans at the two banks cause the value of their assets to fall by 7 percent. Which bank shows a lar
If a country is currently producing 11 units of health care and 16 units of education, what is the opportunity cost of producing 5 more units of education?
In an article about the financial problems of USA Today, Newsweek reported that the paper was losing about $20 million a year. A Wall Street analyst said that the paper should raise its price from 50
The company estimates the probability of no damage to be 0.60, the probability of damage between $0 and $10,000 to be 0.25, and the probability of damage between $10,000 and $25,000 to be 0.12. If t
A plastic surgeon thinks she can make more revenue by lowering the price of cosmetic surgery. She lowers her hourly rate from $600 to $550. If cosmetic surgery is an elastic service, is she correct in
What marginal costs does University of Phoenix incur in offering one more ECO/561 class? What marginal revenues does University of Phoenix earn from each additional ECO/561 class? How would you ex
Indicate how an understanding of demand and of elasticity of demand is useful in analysing the following statement. “If total consumer expenditure remains the same after a new tax is impose
According to the aggregate expenditure function, as the price level decreases, it is reasonable to expect that A the automonos and induced expenditures increase B only the autonomous expendi
Businesses often decide between using automation and labor in production. An automotive environment may have high fixed costs and low variable costs, and an industry that utilizes manual labor for pro
What is a specific problem facing the United States Congress? Where would I be able to find articles / information about problems in education or economics?
Suppose you are to specify a short-run total variable cost function for a nursing home. Explain the variables you would include in the function. What is the expected relation between a change in e
The most obvious benefit of specialization and trade is that they allow us to a. work more hours per week than we otherwise would be able to work. b. consume more goods than we otherwise wou
1. An economy's production possibilities frontier is also its consumption possibilities frontier. a. under all circumstances b. under no circumstances c. when the economy is self-suffic
How does the market price of a good in a monopoly market compare with the market price of the same good in a perfectly competitive market? A. The price is higher. B. The price is lower.
The currency in Great Britain is pound and the price of a particular British car is 12,000. suppose the exchange rate is 0.67 per dollar. what iis the price of the British car in United States dolla
I'm asked to sketch the average and marginal cost curves of a software company, in which when it first starts up, the costs are extremely high.High start up costs, millions of dollar spent to make the
Consider a competitive seller of iced coffee drinks. Suppose that this seller’s marginal cost of producing an amount of such drinks per week is given by the following. The first 200 dr
When the price of X is $1 and the price of Y is $1 and income is I, Joe Panther spends $100 on good X. One day Joe is walking down Downer street and is dismayed to discover that the price of good X ha
Environmental Science involves the fields of Science, economics, and politics. Take a current environmental issue, such as the Hurricane Katrina in New Orleans and examine it from the scientific, econ
The Tax Reform Act of 1986 eliminated the deductibility of interest payments on consumer debt mostly credit cards and auto loans but maintained the deductibility of interest payments on mortgages and
You have opened your own word processing service. You have already bought a special computer needed for word processing and paid $5,000 for it. However, due to the cost changes in the computer industr