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Q. 1. What is the difference between micro and macro economics? Give an example of a microeconomic phenomenon and an example of a macroeconomic one.
Microeconomics, Economics
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Question: One constraint in our economy is time. As a society, we make choices about allocation of time between work and other pursuits. In the US, most workers are eligible for overtime pay if they work more than 40 hou ...
Question: a. Find the Nash equilibrium (and also explain how you come up with this equilibrium) b. Explain the implication of this equilibrium with regard to its stability and its role as an efficient allocator of resour ...
Question: Since we are at full employment, draw a AS-AD graph showing us at full employment. Be sure to label everything. a. Now suppose oil prices double over the next 12 months. Draw and label the impact of the change ...
Question: The demand for imported Honda automobiles is given by the following equation: Q H = 1200 - 20P H + 10P C + 200P G The price of Hondas, P H = 60, the price of Chevrolets, P C = 70, and the price of gasoli ...
Question: Assume that US imports have an income elasticity of 1.3 and a price elasticity of -0.5, and US exports have an income elasticity of 1.2 and a price elasticity of -0.7. They also have a ‘‘repercussion elasticity ...
Question: You are paying a series of five constant-dollar (or real-dollar) uniform payments of $1830.5 beginning at the end of first year. Assume that the general inflation rate is 30.37% and the market interest rate is ...
Quesiton: In Germany it takes three workers to make one television and four workers to make one video camera. In Poland it takes six workers to make one television and 12 workers to make one video camera. a. Who has the ...
Question: A new hydraulic lift will cost $125213. At the end of its 9 years of useful life, the machine can be sold for $39492. The new machine will reduce annual expenses by $21717. The interest rate is 3% compounded an ...
Question: Most lenders charge an up-front fee called origination fee, which is added to what borrower owes and is described as "points," e.g., 1 point is 1%. The lenders are required by law to account for the origination ...
Question: In order to analyze the effect of imposing tariff at HOME country, (i.e. when it is large enough to exert an influence over world prices), Draw a typical Foreign Market Supply and Demand curves first. Then, dri ...
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