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What are the basic problem of macro economics? What is an explanation on what is meant by the basic economic problem?
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Question: Suppose you want to put a dollar value on the external costs of carbon emissions from a power plant. What information or data would you obtain to measure the external [not social] cost? The response must be typ ...
Question: Assume that the elasticity of demand for some good is less than 1 in absolute value. If half of the available supply is destroyed its price will rise, as will the total amount consumers spend on it. Does this m ...
Problem: Suppose firms cost function is C(q) = 4q ^2 + 16 a) Find variable cost, fixed cost, average cost, average variable cost,and average fixed cost. (Hint: Marginal cost is given by MC = 8q) b) Show the average cost, ...
Question: 1. Draw a short run firm and industry competitive equilibriums for a perfectly competitive gator farming industry before the number of alligators farms in Fl. doubled. For simplicity assume the gator farm is ea ...
Question: 1- How did the political reaction to government funding for the Solana project differ from the reaction to more conventional government spending projects such as roads and schools? What does the case tell us ab ...
Question: Analyze the nominal and real concepts, and apply these concepts to Gross Domestic Product (GDP). Determine the elements that affect the reporting of the GDP. Compare and contrast the reporting of GDP in nominal ...
Question: Oil prices have risen temporarily, due to political uncertainty in the Middle East. An advisor to the Fed suggests, "Higher oil prices reduce aggregate demand. To offset this we must increase the money supply. ...
1. Price elasticity of demand a. The price elasticity of demand measures: b. T F Demand is elastic when the percent change in quantity demanded times the percent change in price is greater than 1 . c. Extreme c ...
Question: Consider the case of global environmental problems that spill across international borders as a prisoner's dilemma of the sort studied in Monopolistic Competition and Oligopoly. Say that there are two countries ...
Question: Every year you deposit exist7,200 into an account that earns 4.5% interest per year. What will be the balance of your account immediately after the 14th deposit? (Enter your answer as a number without the dolla ...
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