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Do you think the government should include estimates of the underground economy in its GDP calculations? Discuss the pros and cons. Use references as needed.
Microeconomics, Economics
Question: Three firms are considering entering a new market. The payoff for each firm that enters is 150/n, where n is the number of firms that enter. The cost of entering is 62. Find all the pure-strategy Nash equilibri ...
Question: A consumer has the following utility function: U(x1,x2)=ln(x1)+2*ln(x2), where ‘ln' stands for the natural logarithm. Reminder - the derivate of ln(x1) with respect to x1 is 1/x1. a. Calculate the demand functi ...
Question: Think of the last two major things you bought. Why did you buy them? What were your opportunity costs in making the purchase? What would have been the opportunity cost, if you had NOT made the purchase? (Not al ...
Question: Investors sometimes fear that a high-risk investment is especially likely to have low returns. Is this fear true? Does a high risk mean the return must be low? The response must be typed, single spaced, must be ...
Question: Assume that the consumer purchases only two goods, x and y. Based on the information in each of the following parts, sketch a plausible set of indifference curves (that is, draw at least two curves, and indicat ...
Question: If we plot Michelle's GPA as a function of her leisure time, we see that her GPA ?rst rises with leisure (taking some time o? improves her performance) but eventually decreases with leisure. 1. Plot the relatio ...
Question: In an effort to reduce energy costs, a major university has installed more efficient lights as well as automatic sensors that turn the lights off when no movement is present in a room. Historically, the cost of ...
Question: 1) Assume you have two goods: food and beverage with a monthly income of $100. The price of food (Y axis) is $20 and the price of beverage (X axis) is $10. Graph the model (i.e. set the intercept terms) and cor ...
Question: Describe complexity economics in detail. What do you see as the strengths and weaknesses of this approach to macroeconomics? Explain your answer fully. The response must be typed, single spaced, must be in time ...
Question - After reading Business Cycles By Christina D. Romer, answer this: What were the causes of business cycles before 1914? What happened to Business Cycles between 1929 and 1948? What was the history of Business C ...
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