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Question: 1. What happens to price and quantity when supply and demand change at the same time?
2. Is there more than one potential equilibrium point when supply and demand change at the same time?
Microeconomics, Economics
Question: In 1998, Brazil had a per capita GDP of about $4,500, compared to per capita GDP of about $28,000 in the US. (A) If per capita growth were to average 2% per year indefinitely in the US and 5% per year in Brazil ...
Question: Describe the Learned Hand Rule, and discuss the economic logic underlying it. Do you believe the objective is being achieved? The response must be typed, single spaced, must be in times new roman font (size 12) ...
Question: Free international trade enables all nations to gain from specialization and trade. To what degree can the United States save jobs, compensate for low foreign wages, compensation for costly environmental polici ...
Question: Suppose you want to hasten the transition from a depletable fossil fuel to solar energy. Using graphs in your explanation, compare the effects of a per unit tax on the depletable resource to an equivalent per u ...
Question: Problems exist within the firm. There were problems of collective action, public goods, knowledge problems, and perverse incentives to name some. What were the three methods we discussed in class to help resolv ...
Participation in the labor force is much lower than it has historically been. How have government benefits, such as food stamps and housing subsidies, affected the labor-leisure choices of individuals?
Question: Write a thorough analysis of unemployment, defining the various types of unemployment, full employment, and the natural rate of unemployment. Describe the impact of unemployment on the economy and your solution ...
Question: Congress has the choice of spending $50 billion on either space exploration or increased aid to education. Outline the arguments that would lead you to conclude which type of expenditure is more likely to incre ...
Question: A firm has a fixed production cost of 5, 000 and a constant marginal cost of production of 500 per unit produced. a) What is the firms total cost function? Average cost? b) If the firm wanted to minimize the av ...
Question: The Taxpayer Relief Act of 1997 created the Roth IRA, which permits qualifying individuals to make after-tax retirement contributions of up to $2,000 annually. Contributions to a Roth IRA are not tax-deductible ...
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