Q: Which is the biggest national economy on earth? Why has it
Which is the biggest national economy on earth? Why has it remained bigger than other countries with much larger labor forces or those with higher per capita incomes?
See AnswerQ: A bottle of wine you bought 15 years ago for $20
A bottle of wine you bought 15 years ago for $20 now has a market value of $1,500. Would you sell your bottle at that price or keep it for an important occasion? Would you purchase another bottle of s...
See AnswerQ: If an earthquake destroys some of the factories in Poorland, what
If an earthquake destroys some of the factories in Poorland, what happens to Poorland’s potential GDP? What happens to Poorland’s potential GDP if it acquires some new advanced technology from Richlan...
See AnswerQ: Roughly speaking, what fraction of U.S. labor works
Roughly speaking, what fraction of U.S. labor works in factories? In service businesses? In government?
See AnswerQ: The United States is one of the world’s wealthiest countries. Think
The United States is one of the world’s wealthiest countries. Think of a recent case in which the decisions of the U.S. government were severely constrained by scarcity. Describe the trade-offs that w...
See AnswerQ: Explain why economic growth might be higher in a country with well
Explain why economic growth might be higher in a country with well-established property rights and a stable political system compared with a country where property rights are uncertain and the governm...
See AnswerQ: Comment on the following: “Sharp changes in the volume of
Comment on the following: “Sharp changes in the volume of investment in the United States help explain both the productivity slowdown in 1973 and the productivity speed-up in 1995.”
See AnswerQ: How are the following demand curves likely to shift in response to
How are the following demand curves likely to shift in response to the indicated changes? a. The effect of a drought on the demand curve for umbrellas b. The effect of higher popcorn prices on the dem...
See AnswerQ: Now complicate Trivialand in the following ways and answer the same questions
Now complicate Trivialand in the following ways and answer the same questions. In addition, calculate national income and disposable income. a. The government bought 50 cars, leaving only 150 cars fo...
See AnswerQ: What shapes would you expect for the following demand curves?
What shapes would you expect for the following demand curves? a. A medicine that means life or death for a patient b. French fries in a food court with kiosks offering many types of food
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