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What happens when price is below the equilibrium price? Why? In what direction will price and quantity move as a result of a demand shift?
What is the difference between a change in quantity demanded and a change in demand? Why is the supply curve upward-sloping?
What simplifying assumption do we make to build a demand curve? Why is the demand curve downward-sloping?
What differentiates microeconomics from macroeconomics? How are consumption and production interconnected? What tools do we use to study microeconomics?
In this situation, what is the price that determines how many students will apply to the honors program?
How do producers receive the signal that they need to increase production to meet the new demand?
Draw a diagram showing how the invention and popularization of the Internet have caused the demand curve for lightning rods to shift.
What is the likely effect of these two events on the price of orange juice? On the quantity of orange juice sold?
What is your roommate assuming about the relationship between distance and price? How do you explain these prices?
Calculate the overall market equilibrium quantity and the corresponding market clearing price. How much corn does each farm produce?
What is the average total cost of producing 5 cars? Draw the marginal cost curve and the average total cost curve for a typical firm.
If the entire amount of Hometown's new loans is spent and the funds are deposited in Bank B, by how much can Bank B increase its loan making?
examine any other qualitative issues related to the Turkish accession to the European Union. What is the present outlook for fruition and potential timetable?
What is the increase in average wages over this time period? Who wins if the inflation increase is larger than the average wage increase?
If a government runs a budget deficit of $10 billion dollars each year for ten years, then a surplus of $1 billion for five years. What is the government debt?
How can you support your position? Answer the following question by integrating research, examples and opinion.
What are annual consumer expenditures on the Pakistani wheat crop? What are annual government expenditures on the Pakistani wheat crop?
What is the correlation between unemployment and inflation? In your opinion, do you believe that this correlation is true of the current economy?
Create an annotated bibliography from your research with a minimum of eight well-written APA-formatted entries.
What was the most challenging idea / concept / piece of information you encountered? What thoughts / worries / concerns did you have regarding this?
What type of adjustments must advertising agencies make as more companies want one sight, one sound, one sell campaigns?
If California lowers the highest tax rate to below the current 10.5 percent and cuts some free benefits, how might California's Lorenz curve change?
Explain the effect of a large increase in foreign immigrants who are largely poor, unskilled workers on the market for low-skilled labor.
Draw a graph to illustrate what would happen to the quantities employed of the two types of labor.
Draw the demand and supply curves for these two types of labor. What feature of your graph accounts for the differences in the two wage rates.