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There have been many allegations of a nursing shortage, using both the healthcare planners' and economists' definitions of shortages.
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Which of the following was proposed or supported by a Republican President?
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Long-run analyses of competitive markets predict that prices should fall to the minimum of long run average costs.
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Now that we have covered the concepts of changes in quantity demanded and supplied, elasticity is a concept that measures by how much does quantity...
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Understand the terms price taker and price maker and how it relates to the consumer.
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Exam 2 1. If Weiskamp T-shirt Co. lowers its price from $6 to $5 and finds that students increase their quantity demanded from 400 to 600 T-shirts,...
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Limited edition models like the quot;Nike Air MAG Back to the futurequot; sell for about $250. On eBay, the average 2014 price of a used pair of...
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Why do central banks conduct inflation targeting (IT) as a policy framework?
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Which of the following will not cause an increase in U.S. gross exports?
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The following graph represents a natural monopoly. a. Why is this firm considered a natural monopoly?
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Suppose there are only two people, Mr. Mullinax and Ms. Fleming, who must split a fixed income of $50,000. For Mr. Mullinax, the marginal utility of...
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Your government desires that the poor in your economy eat more French Vanilla Ice Cream (a healthy protein supplement). So it taxes the rich and...
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Name (ID) Econ2010 Practice Exam#2 I. Multiple Choice (12 questions - 4 points apiece) Select the best answer to each of the following questions....
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If the demand for corn increases due to its use as an alternative energy source, what will happen to the supply of corn's substitute such as soybean?...
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The best way to ensure the accuracy and safety of your accounts is to:
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Agree or disagree and explain:
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You are a newly hired manager of a small manufacturing plant in a rural area where highly skilled labor is in short supply, despite the fact that...
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Suppose a firm can produce 100 units of Thingies using 6 labourers and 4 machines. Separately, the same firm could produce 100 units of Doo-Hickeys...
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Agree or disagree and explain. quot;The AD schedule slopes downward because real income rises as the price level declines and everybody buys more as...
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A firm produces output according to a production function
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A Wall Street Journal article noted that a study by U. Congressional Budget Office quot;estimated raising the minimum wage to $10.10 per hour...
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Con sider the following demand curve for Starbucks coffee. All underlying work must be shown.
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Attending college is a case where the ________________ exceeds the monetary cost. budget constraint B. marginal analysis C. opportunity cost D.
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Please show enough work to demonstrate how you arrived at the calculation. Florian has preferences over cash (c), pens (p) and mugs (m) as...
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Explain why a perfectly competitive firm can sell as much as it wants at the market price but a monopolist must lower its price to sell more.
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Consider a monopolist facing the following demand and cost curves. P = 50 - 2Q C = 25+10Q (Hint:
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New Government Employment and True Unemployment. Suppose the U. government hires workers who are currently unemployed but does not give them any work...
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An individual has to choose between investment A and investment B. The individual estimates that the income and probability of the income from each...
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Q1. If you have a credit card with 14.4% APR a. What is your monthly interest rate and what is your annual effective interest rate?
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DJT has $100K to invest in bonds or in money via an interest-earning checking account.
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Can Minimum Wage Policy cause unemployment or job losses .
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Singapore PM Lee Hsien Loong announced in a speech (Links to an external site.) Links to an external site. late last year that quot;raising taxes is...
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Suppose that Mimi plays golf 5 times per month when the price is $40 and 4 times per month when the price is $50. What is the price elasticity of
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Consider a manufacturing firm using human capital at home to produce two inputs, 'R amp; D' and 'components'. The firm combines the two inputs to...
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Employees trimmed jobs from their payrolls in June for the sixth straight month, as the government's closely watched report on Thursday showed...
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The demand for pocket calculators is given by the function: P = 6 – 0.5Qd; and the supply is given by the function: 6 = Qs - P; where = Qd = quantity demanded, Qs= quantity supplied and P = price. a
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Economists announce that the unemployment rate will increase over the next six months. The demand for new homes will ( increase / decrease ).
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Suppose Freddy observes two free throws each by a large number of basketball players. There are four possible types of players Freddy imagines can...
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According to the Economist (quot;Big Mac Currencies,quot; The Economist, April 17th 1993), in 1993, the average price of a Big Mac in the U. was $2....
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Already known: demand is given by p=42-5q Supply curve for trips: p=7+2qs market equilibrium: p=$17 q=5 consumer surplus= 62.
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There are a range of property rights regimes that are possible in agriculture.
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A surveyr of all recreational shermen using Lake Chutzik in the Adirondacks (upstate hlew York) during the summer of 1990 produced the following...
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Consider if an economic model describe reality exactly.
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For 3b, what would happen to the optimal consumer bundle if the real wage increases for U=lnC +bln(l).
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Globalization has increased the influence of some actors on the world stage and decreased the influence of others.
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Discuss the pros and cons of the minimum wage. Does it benefit society or merely distort labor markets? Does the higher labor cost lead to price
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Sal's satellite company broadcasts TV to subscribers in Los Ahgeles and New York. The demand functions for each of these two groups are:
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Please review the following and fill in the six blanks. The options for the last two blanks are (winter/summer) and (higher/lower).
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Alamer has Moclients. She charges a yleal'tllr retainer plus a separate fee for each consultation. The retalneris a fee each client pays just to...
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Macroeconomics: explain how the real interest rate is determined. Provide a rough diagram to support your answer.
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