Latest Questions & Answers

Q: What was real per capita GDP in 1933 measured in 2008 prices

What was real per capita GDP in 1933 measured in 2008 prices? (Use the data in Table 5.4 to compute your answer.)

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Q: Should the firefighters have saved the house in the News on page

Should the firefighters have saved the house in the News on page 73? What was the justification for their belated intervention? I N T H E N E W S Firefighters Watch as Home Burns to the Ground OBI...

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Q: What’s the real cost of the food in the “free lunch

What’s the real cost of the food in the “free lunch” cartoon on page 6?

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Q: According to the World View on page 32, what percentage of

According to the World View on page 32, what percentage of America’s GDP per capita is available to the average citizen of (a) Mexico? (b) China? (c) Haiti?

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Q: Use Figure 4.3 (p. 75) to illustrate

Use Figure 4.3 (p. 75) to illustrate on the accompanying production possibilities curve the optimal mix of output (X).

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Q: How much time could you spend on homework in a day?

How much time could you spend on homework in a day? How much do you spend? How do you decide?

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Q: What opportunity costs did you incur in reading this chapter? If

What opportunity costs did you incur in reading this chapter? If you read another chapter today, would your opportunity costs (per chapter) increase? Explain.

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Q: Could demand-pull inflation occur before an economy was producing at

Could demand-pull inflation occur before an economy was producing at capacity? How?

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Q: Why is the failure of a major bank so frightening?

Why is the failure of a major bank so frightening?

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Q: By how much did defense spending increase in 1940 to 1944?

By how much did defense spending increase in 1940 to 1944? (See the front endpapers of this book.) What was crowded out?

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