Ease inflationary pressures
Problem: Testing procedures required by the US Food and Drug Administration raise the cost and price of drugs. Should we eliminate such requirements in order to ease inflationary pressures? How about the regulation of hot dog content?
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What is an opportunity cost? Why do economists consider opportunity costs? Provide an example of at least three possible opportunity costs of setting aside a mountain wilderness as a wilderness area and sanctuary for an endangered flowering plant.
Consider a firm that is deciding whether to operate plants only in United States or also in either Mexico or Canada or both. Congress is currently discussing an overseas investment in new capital (OINC) tax credit for U.S. firms that operate plant
Question 1: In what ways do future generations benefit from this generation's deficit spending? Cite three examples.
Question 1. Between 1929 and 1933, GDP measured in current prices fell from $96 billion to $48 billion. Over the same period, the relevant price index fell from 100 to 75. a. What was the percentage decline in nominal GDP from 1929 to 1933?
Testing procedures required by the US Food and Drug Administration raise the cost and price of drugs. Should we eliminate such requirements in order to ease inflationary pressures? How about the regulation of hot dog content?
What variables other than price appear to have the biggest impact on the demand for McDonald's products? How much influence does the company have over these variables?
Between October 2004 and 2005, real GDP in the United States increased by 3.6 percent, while nonfarm payroll jobs increased by only 1.4 percent.
Use the given data for a perfectly competitive firm and the profit-maximizing input-combination rule to identify how many workers the firm will employ to maximize profits.
Use the interactive feature of the Bureau of Economic Analysis Web site, www.bea.gov, to access the National Income and Product Account Tables. Select Interactive Data Tables, which is listed under Publications.
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