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When the price of cell phones is $100.00, the quantity demanded is 2000. The price elasticity of demand for cell phones between the prices $50.00 and $100.00 is how much?
If the average employee compensation grew at the rate of 3.5% per year, how many years would it take for it to double?
In an industry where there are increasing returns to scale over wide ranges of output, would you expect to find a few relatively large firms or many relatively small firms? Why?
The tax reduces the equilibrium quantity in the market by 200 units. The deadweight loss from the tax is $1000. Why? Why not $2000?
One difficult summer as our time period for the purpose of discussion. Explain, then, the following effects in terms of the income effect, or the substitution effect, or both effects.
Which of the following statements best describes New Zealand's physical landscape? the South Island is predominantly flat, while the North Island is covered mostly with elevated plains.
Discuss the relationships between the nominal money supply, nominal interest rates, the consumer price index, and inflation rates, real money supply and real interest rates.
As a result, The Camera Shop will discontinue its operations next month. Will this information alter your pricing decisions today? Explain.
Are you concerned that automation may increase unemployment or underemployment in the United States and around the world? Why or why not?
a list of potential suppliers, (d) a list of purchasing and pricing procedures, and (e) a list of personnel needed with job descriptions. What important items are missing from Mike's plans?
Evaluate each of his major points and decide whether you consider it valid or invalid. Be sure to justify your position. What are the counterarguments to his major points and why?
The production of widgets has the following average variable costs: Calculate the output level of widgets that: Minimizes the average total cost (ATC) of widgets.
The gain in revenue equals the new, lower price times the number of additional trucks sold. Use the green rectangle (triangle symbols) to shade the area of revenue gained.
Through the guiding function of prices and the incentive function of profits is the market system's answer to which question? How will society allocate goods and services to consumers?
Factor income received from rest of world = 9. Find the following, assuming that government investment is zero:GDP and current account.
If player 1 moves left and player 2 moves right, player 1 receives 10 and player 2 receives $10. Which of the equilibrium outcomes is most reasonable? Explain.
The equivalent AD-AS framework (determination of price level and income) and how changes in equilibrium occur as a result of changes in fiscal and monetary policy.
Why is it important to take into account changes in the participation rate and in the ratio of full to part time employment in assessing the economic and social impact of changes in the unemployment
Explain the concept of the multiplier, and explain the role of the marginal propensity to consume in determining the size of the multiplier.
Organize the above data into the appropriate categories for the current and capital accounts; determine the current account balance.
In 2003 to 2004, the Canadian dollar appreciated against the US dollar. Explain the effects of this appreciation on each of the following. Canadian exporters of goods to the US.
If a monetary expansion caused all prices in Mexico to double, so that soda rose to. 24 pesos, what would happen to the peso-dollar exchange rate.
How do these two relate to each other in the Circular Flow Economy and to the Government and Foreign Sector components? How does all this fit on a Wheel of Income?
Discuss three tools government can use to influence imports. Discuss and evaluate the two classical arguments for trade protection and restriction.
What happens to Q* if there is an increase in supply and an increase in demand. What happens to P* if there is a decrease in demand followed by an increase in supply followed by another decrease in de