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What is the policy of import substitution? Why might poor countries face obstacles when following this policy?
What causes the lags in the effect of monetary and fiscal policy on aggregate demand? What are the implications of these lags for the debate over active versus passive policy?
Which of the following most closely relates to the idea of opportunity costs?
If the price at which wheat can be sold is $5 per bushel and if farmers want to earn a normal profit of $10 per acre, what is the most that any farmer would pay to rent your 10 acres?
Why are poor countries poor and rich countries rich? What are the main ingredients for economic growth? What policies (if any) can be used to stimulate growth?
Describe what would happen to the aggregate expenditure function in each of the following cases. Would it increase (shift up), decrease (shift down), or not shift at all?
A monopolistically competitive firm faces the following demand and cost structure in the short run: What is the highest profit or lowest loss available to this firm?
If the Boca Raton Company has only one rival, and if its rival too makes such an announcement, does this change the payoff matrix? If so, in what way?
The production of each compute chip, however, results in a pollution of cost of 10 cents. Draw a figure, showing the equilibrium price and quantity for this special chips., as well as the socially
Does either player have a dominant strategy? Explain. b) Is there a Nash equilibrium in this game? If so what is it? c) Is this game an example of the prisoners' dilemma? Explain.
What are some of the true concerns of the U.S. Budget Deficit? Some of the false concerns?
What is relative PPP? Calculate the current pound spot rate in dollar that would have been forecast by PPPDoes the PPP hold in this case? What could be the reasons for that?
Actions by the Federal government that decrease the progressivity of the tax system:
In what way do competitive markets have a "natural remedy" for discriminatory hiring practices? A. Government naturally steps in to resolve problems of discrimination.
The marginal cost of producing the product is $30. If the firm pays a fee of $50000 to the General Drug Research Council, it can have its product's effectiveness certified. The demand function for a
Define natural monopolies. Explain how natural monopolies are established. Explain the justification for natural monopolies according to economic theory.
Define social regulation. Explain why social regulation exists.
How industrial regulation affects the market. Explain the entities affected by industrial regulation in terms of market str
"Understanding new needs is the heart of our success." How has American Express Leveraged its brand into customer segments and created value through different card and program offerings?
A firm uses 1 capital for every 8 workers to produce 1 output. The price of output is $75, the wage rate is $6, and the rental rate for capital is $2 per unit. Assume capital is not a fixed cost.
What is the inverse demand function for Dr. William's services? The average variable cost function for reconstructive nose surgery is estimated to be. what price should she charge to perform a nose op
Suppose the French government sets a minimum yearly wage of €35,000. Is there any involuntary unemployment at this wage?
Suppose the cable TV industry is currently unregulated. However, due to complaints from consumers that the price of cable TV is too high, the legislature is considering placing a price ceiling on ca
An auto-service establishment has estimated its monthly cost function as follows: What price should the firm charge to realize the targeted profit? What would be its (cost-based) markup ratio?