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If an increase in government expenditures is financed by an equal increase in taxation, what impact will these actions have on the economy? If the same increase in government expenditures is financed by additional borrowing by the federal government, what...
What does gross domestic product (GDP) tell us? How did GDP change from 2008? What caused these changes? What is real GDP? What was real GDP in 2008 and has it changed since 2008? What was national income (NI) for 2008? What does national income tell us?...
Compare and contrast surge versus congestion pricing. Provide a specific example of each currently in use. There are many types of auctions, each with strengths and weakness at uncovering the real price/value of an item. Compare and contrast how each of...
Can you think of an economic justification that the government would have the generous subsidy programs that are in place for agricultural products? The key with this question is using economic concepts to justify the existence of these programs (whether or...
Define the concept of elasticity. Explain how a higher price and a lower price affect consumers and producers. Share how the changes of price for an elastic good and an inelastic good you use regularly has affected your purchasing and lifestyle....
Watch the video clip The Corporation.After watching the video clip consider that labor is a derived demand. What forces are at work demanding low-skilled labor in the developing world? What could a country do to improve the types of skills demanded of its labor?
