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Calculate how many pounds of butter each country produces in autarky. What is total world output of guns and butter now?
Calculate the following: the equilibrium price and quantity, consumer surplus and producer surplus. How do you find the domestic price to answer their question?
Use the formula to calculate the increase in the CPI from March 2007 to March 2008 to two decimal places. Calculate the CPI for March 2008.
A construction project has the following end-of month costs. Calculate the PW at a nominal interest rate of 18%.
Explain how you could use the standard tools of expansionary monetary policy and expansionary fiscal policy to stimulate this economy towards economic growth.
What would be the production possibility frontiers for Brazil and the United States? Denote these points on each COUNTRY's production possibility frontier.
In each of your examples, explain how innovation and learning-by-doing are important to the dynamic increasing returns in the industry.
What other activities would increase GDP if they were done differently? What activities would decrease GDP if they were done differently?
How does this system help protect consumers? ow might this system protect the financial interests of doctors more than the well-being of consumers?
The equation for a demand curve is P = 48 - 3Q. What is the elasticity in moving from a quantity of 5 to a quantity of 6?
What is the cost of regular unleaded fuel in your town? What are some contributing demand and supply factors to the differences in fuel prices around country?
Draw the consumer's budget line in the absence of the Food Stamp Program. On the same graph, show the budget line with the Food Stamp Program.
How much food production is sacrificed when North Korea moves from point P to point N?
How much would it cost to pay five workers at the U.S. federal minimum wage to do the same job in the same amount of time?
Compute what price can be settled between these two parties such that both individuals can enjoy more of rice and beans?
Globalisation of the world economy has significantly improved our living standards. Whyy do you support the idea of globalising the Australian economy?
Sketch a demand and supply graph of the market for gasoline to analyze the situation described in this article.
How has the increase in the availability of apps for these smartphones affected the demand or Apple iPhones? Briefly explain.
Celeste, who uses earnings from her regularly scheduled hours of part-time work to pay for her room and board at college.
Who wants to borrow from you to buy a new car, even if that person offers to pay you an interest rate higher than 3 percent?
Calculate the new equilibrium interest rate and quantity, and explain why the direction of the interest rate shift makes intuitive sense.
What happens to the price and the quantity bought and sold in the cocoa market if countries producing cocoa experience a drought?
What is protectionism? Who benefits and who loses from protectionist policies? What are the main arguments people use to justify protectionism?
Estimate the total uncertainty in prediction by accounting for both the aleatory and epistemic uncertainties assuming normal probability distributions.
What has happened in the market for your good or service in the curve you labeled S1? What happened to the equilibrium price compared with D1?