Fri 18 Sep, 2015 06:41 am - The price of OrangeCow is fine, we won't change it. Because, because the PED is 1.2 for every 1% change in price there will be a 1.2% change in QD. So, if we increase our price by 1% we will... (view)
Fri 18 Sep, 2015 06:30 am - That last reply is pretty bad. Just because foreign trade enters a country doesn't mean a country becomes self-sufficient.
Back to your question. What do you mean by foreign trade??
If you... (view)
Fri 18 Sep, 2015 06:23 am - Not sure what you're talking about. According to several recent news articles the average american income is no better off than it was in 1999. (view)
Fri 18 Sep, 2015 06:21 am - From the OECD-- Comparative price level indices are the ratios of purchasing power parities to market exchange rates. At the level of GDP, comparative price levels provide a measure of the... (view)
Fri 18 Sep, 2015 04:35 am - Check out:
McConnell Brue Flynn- easy to understand with some math
Parkin- better examples, more maths but more difficult to understand.
The problem with Micro is, there isn't a lot of... (view)
Thu 2 Apr, 2015 05:14 pm - 1. the floor changes QS, the subsidy will change S. Quota, it depends on the world price beforehand.
2. since the floor will lead to a surplus, which must either be thrown out or purchased by the... (view)
Thu 2 Apr, 2015 05:06 pm - Argue that since households (consumers) own all the factors of production, (circular flow) then without consumers firms would not be able to produce.
OR, firms are owned by select consumers... (view)
Thu 2 Apr, 2015 05:02 pm - Hi, firstly, I don't know where you got $949 from, I suppose you multiplied things by your multiplier, which is not correct. The multiplier is for changes in spending, so unless there is... (view)
Thu 2 Apr, 2015 04:54 pm - Total Revenue, with relation to Elasticity, is dependent on Demand. Supply has nothing to do with it. Usually a Demand curve is drawn, axis to axis. Then a Total Revenue curve is drawn on a... (view)
Thu 2 Apr, 2015 04:46 pm - Firstly, to construct your quarterly CPI, you will need more detailed information than what you provided, so we may not be able to help you there.
Second, you need to choose a base year, like... (view)
