Question: Rules restrict how we interact with others and, therefore, restrict our ability to engage in exchange. Given these are undesirable (from an economic standpoint), what benefits to rules provide us? What is the d ...
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The number has jumped 60% since last year. When prices were falling, the number fell from 2,000 in 2015 to only 480 in 2016. For the week of March 10, 2017 the number was at 762. The elasticity of the supply is around 0. ...
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Question: Assume Congress is considering reinstating a 10% investment tax credit in order to stimulate the economy. The bill would apply to purchases of all new capital equipment, so it would increase the budget deficit ...
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Question: In 1999 Brazil was forced to devalue the real by almost 50%, and in 2002 Argentina was forced to devalue the peso by almost 50%. According to the static model, that would boost net exports and raise GDP. Howeve ...
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Question: 1. Suppose the velocity of money is constant and potential output grows by 3% per year. By what percentage should the money supply grow in order to achieve the following inflation rate targets? 2. Suppose the v ...
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Question: Becky and Sarah are sisters who share a room. Their room can easily get messy, and their parents are always telling them to clean it up. Here are the costs and benefits to both Becky and Sarah, of taking the ti ...
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Hotel managers use marginal cost all the time. As the training manager for Hilton once noted, "We are selling a very perishable product." A hotel room not rented tonight cannot be rented twice tomorrow night. You are the ...
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Discuss transportation and logistics management policy. What impact does policy (local, state, and/or federal) have on transportation? For example, how does policy affect a retailer in trying to get their product from a ...
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Question: If you owned a small firm that had become somewhat established, but you needed a surge of financial capital to carry out a major expansion, would you prefer to raise the funds through borrowing or by issuing st ...
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Question: Four firms called Elm, Maple, Oak, and Cherry, produce wooden chairs. However, they also produce a great deal of garbage (a mixture of glue, varnish, sandpaper, and wood scraps). The first row of Table 12.6 sho ...
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