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If there was no item in the economy widely accepted in return for goods and services, how would transactions is carried out in this economy? How efficient would such a system be?
Do the effects of this event mean there is no short-run tradeoff between inflation and unemployment? Why or why not?
Illustrate the changes in the economy using both aggregate-supply/aggregate demand diagram and a Phillips-curve diagram. What happens to inflation and unemployment in the short run?
"Every point on Ford's long run cost curve corresponds to a point on some short run cost curve, but not every point on one of Ford's short run cost curve corresponds to a point on the long run cost
When a firm produces an output in the least costly way, using labor and capital, MRTSlk=w/r. Does this relationship mean that the firm sets input prices so that the ratio equals MRTSlk?
Suppose the demand for export labor increases by 10,000 jobs. Predict the new equilibrium values for the wage and total employment. Illustrate your answer with a graph.
The CPI increases from 110 to 121 and Manny's nominal income increases from $100,000 to $120,000 over the same period. Manny's real income has increased, decreased or stayed the same?
Explain an inverse realtionship between short-run production and cost functions. Draw a various short-run cost curves (i.e. AVC,MC and ATC) and explain why their are U-shaped.
Which is then less than and equal to 1. for i = 0,...,3, if this production function is to exhibit constant returns to scale, what restrictions should be placed on the coefficients (beta_i)?
Find the profit maximizing price if fraction (lambda) of the CNN population are teachers and (1 - lambda) are students.
A customer requested an adhesive of 25% polymer content. The company charges for the mixing $20 /ton at what price the new adhesive product should be sold?
In your own words, define Risk Analysis as it pertains to economics. List and define the mechanics of capital budgeting as an application of marginal analysis.
Define Economic Theory, and list some differing perspectives on the nature of competition in imperfectly competitive markets.
Define how a single seller or a single buyer comes to dominate individual markets, and considers the appropriate role for economic regulation.
The foundation for economic growth and a healthy economic environment. List and define at least two methods of improving Public Management.
Compared to the United States, Canada's unemployment rate has generally been higher than that of the U.S. Highlight and explain the reasons for this. What remedial actions can be taken to reverse t
Categorise the recessions as short lived or prolonged. What were the causes for this difference? What policies did the country generally follow under these circumstances?
How can we measure our nation's economic performance? Explain what factors make it difficult to calculate GDP accurately?
Explain how many articles the newspaper will supply and whether it would choose to run an online news website in the long run.
How would this affect accounting cost? How would it affect economic cost? Is there an opportunity cost? Explain your answer.
The government gives a single firm the exclusive right to produce a good or service; (3) Microsoft is owned by a single firm. Do you agree or disagree?
Why and how, do government policies have the capacity to balance private and public interests while laying the foundation for economic growth and a healthy economic environment.
The multiplier for government spending is 2 and that the effects of increased government spending are immediate. What policy actions can be taken to put GDP back on target each period.
Determine the life Y for alternative B so that the two alternatives will be equally desirable, assuming an interest rate of 10%.
Scientists tend not to be very good at running a business, and a lot of times, not very interested in it". Explain these concepts in terms of specialization, trade, opportunity cost and comparative