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compute the percentage change in nominal GDP, real GDP and the GDP deflator in 2009 and 2010 from the preceding year. For each year, identify the variable that does not change.
Choose two of the areas listed and analyze how each area's relationship to global trade patterns changed from 1750 to the present day. Be sure to describe each area''s involvlment in global patterns
Research and write a brief explanation of economic and social regulation. Include an example in which the government has used either economic or social regulatory activities. Do you agree with this
How do you think that these individuals would rank the utility of these same expenses for themselves? What reasons may account for the similarities and differences in the ranking.
Now assume that ther is a dominant firm, whose marginal cost is constant at $6. Derive the residual demand curve that it faces and calculate its profit-maximizing output and price.
What is the velocity of money if the nominal interest rate is constant? How will the level of the velocity of money change if there is a permanent (one time) increase in the nominal interest rate, ho
What is the dollar value of the deadweight loss when output level Q3 is produced? What is the dollar value of the total surplus when output level Q3 is produced."
What are open-market operations? How are they conducted to fight inflation and recession? Write your answers completely
The US in particular has imposed trade embargoes on Vietnam, Iraq, Cuba, North Korea, Libya and others. To what extent do these embargoes work? Are these embargoes more deadly than, say, an outright w
Your answers must include discretionary fiscal policy, expansionary fiscal policy, tax multiplier, Aggregate Demand-some-not all--of these and/or other terms from this week.
The British government ruled in Hong Kong, and the military ruled Thailand. Does the political system have anything to do with the miracle?
How could you use the concepts of marginal cost and marginal revenue to maximize profit? What information do you need to determine this? Without this information, how would you make a decision?
Explain how scarcity of resources influences this market and describe the choices stakeholders are forced to make. Describe the economic flows that might affect this health care market.
Suppose that 50 units of a good are demanded at a price of $1 per unit. A reduction in price to $.20 results in an increase in quantity demanded to 70 units. Show that these data yieled a price elas
Calculate the equilibrium price, output and monopoly profits. What would be the equilibrium if the market was supplied competitively by firms, and each individul firm had the same costs?
Comment on the trade-off between equity and growth? How would you go about resolving the issue if you were the president of a small, poor country?
A firm has fixed costs of $50, variable costs of $1 and a maximum capacity of 50 units of production and it is not possible to increase capacity. Sketch its average, average variable, average fixed
A firm in a perfectly competitive market invents a new method of production that lowers its marginal costs. What happens to its output? What happens to the price it charges?
As a result, residents of Wisconsin who do not like breathing second-hand smoke begin driving across the border to Illinois to eat at restaurants there. Which of the following principles does this b
Derive Jim's optimal labor supply (that is, hours worked as a function of the wage, w, and his non-labor market income V). Find Jim's reservation wage, wR.
In the mid- 1990s and through the early 2000, Japan's annual money supply growth rate fell to 1 to 2 percent from an average annual rate of 10 to 11 percent in the late 1980s. What effect did this d
If so, explain your rationale for making such decisions. Were these decisions guided by the market process, the command process, or the traditional process? Explain.
Essentially, what do you think are the changing aspects of the economics (i.e., customers, technology, and competition) of the following industries?
Describe two different markets where there has been a market disequilibrium. That is, there is a shortage or a surplus. This is often temporary for weeks or months, maybe because of a natural disast
Suppose you remove $1,000 from under your mattress and deposit it in First National Bank. Using a balance sheet, show the impact of your deposit on the bank's assets and liabilities. If the required