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Suppose you have hired a new worker, unfortunately you do not know if the worker is a shirker or a hard worker.
Distinguish between real and nominal GDP. Which one is a better measure of the business cycle?
Economists define a recession as when GDP declines by: a) 2 months in a row. b) 3 quarters in a row.
In analyzing the GDP per capita of a country, such as Saudi Arabia, it would be beneficial to understand and use the economic terminology
How do you remember the shapes and elasticities of demand and supply curves in Microeconomics?
Explain how each of the following will affect the "price" of the Canadian dollar.
How can monetary policy ease the pain of austerity? Illustrate in the graph.
Describe the market structure when iPad was introduced. In theory, how did Apple decide how much to produce and what price to charge?
Suppose MPC is 0.8 initially. Households then change their behavior so that the MPC falls to 0.75. What happens to aggregate expenditures? Why?
Using the above data, determine GDP by both the expenditures and the incomes. Then determine NDP.
Question: Why does investment spending not equal saving in the circular flow?
Question: Why do total leakages and total injections have to be equal?
In the final round of a TV game show, contestants have a chance to increase their current winnings of 1 million dollars to 10 million dollars.
Why is it important for a policy maker to understand the difference between the Classical theory and Keynesian Theory of Economics?
Identify two (2) strategies based on fiscal and monetary policy that would encourage people to spend money in order to create economic growth.
Provide an example from your personal life of one of Mankiw's ten principles of economics.
What are the determinants of supply? How is the supply curve impacted by changes in determinants?
Explain what is meant by predatory pricing, and the inherent difficulties involved with predatory pricing from a firm's point of view.
A. How many people should be employed to maximize profit? B. What will be the firms hourly profit?
To the nearest cent, determine the average cost of the crate from last month to now.
Please help describe the following: 1) Periodic Order Quantity (POQ) 2) Economic Order Quantity (EOQ)
Identify the key drivers of competition for that industry and specifically for the selected company using the Five Force model.
What is Leaky Pipe's optimal order quantity? What is the optimal number of orders per year?
What should be the size of his first deposit (A1)? The first deposit will occur at the end of year 1, and subsequent deposits will be made at the end of each.
Indicate whether the total output should be increased, decreased, or kept the same in order to achieve allocative and productive efficiency?