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A couple starts saving for their retirement by putting $1000 at the end of this year and increasing the savings by 5% each year. If the savings earn 6% annual interest, what would be the value of thei
An engineering student bought a $75 bicycle and agreed to pay for it with a single $85 payment at the end of six months. Assuming semi-annual compounding, what is the annual, effective interest rate?
To repay a $1000 loan, a man paid $90 at the end of each month for fifteen months. What was the (annual) nominal interest rate? Assume monthly compounding.
If a credit card company charges 3% each month on the unpaid balance, compounded monthly, what is the effective annual rate?
If the two spoke, could they find some terms of trade that would make it at least one better off without making the other worse off? How?
At a furniture company, customers who purchase on credit, pay an annual effective interest rate of 36% based on monthly compounding. What is the nominal, annual interest rate they pay?
If a country imports more than it exports, describe three methods that residents of that country have to pay for the extra imports from foreign producers (i.e. changing ownership of assets or liabilit
How does the behavior of the banking system in lending money influence the money multiplier between base money (cash and reserves) and the actual money supply (M1)?
Using the library or the Internet, find some recent projections for the future path of the U.S. govt. debt as a percentage of GDP. What assumptions are made about (i) govt. spending, (ii) taxes, and (
Identify and discuss the tests used to determine whether a law complies with the equal protection clause?
A country with a civilian population of 120000 (all over age 16) has 100000 employed and 10000 unemployed persons, of which 5000 are frictionally unemployed and another 3000 structurally unemployed.
For the 2nd quarter of 2011, identify the estimate for the current dollar value of Gross Domestic Product for the USA and explain in words what this number measures.
How do you make a forecast for gdp growth rates unemployment and inflation that might be experienced in one year, three years and ten years from now. I have the current and past rates but do not know
First class passengers generally pay higher fares than coach passengers,even when they take advantage of advance-purchase discounts. Is this price discrimination?
Is it price discrimination when a professional football team charges say,$150 per ticket for 50-yard-line tickets in the lower deck and $50 per ticket for upper-deck tickets overlooking the end zone?
A college football coach says that given any two linemen X and Y, he always prefers the one who is bigger and faster. Is this preference relation transitive? Is it complete? Explain your reasoning.
Suppose the cost of producing q cars is given by c(q) = 7500 + 2000qa. What is the variable cost of producing 10 cars?b. What is the marginal cost of producing the 10th car?
Widgets R Us, which is a price-taking firm, is currently producing 250 units of output. The market price is $3 per unit, the marginal cost of the 250th unit is $2.75, average total cost is $3.50 per u
Use the information in the following table, which summarizes the payoffs (i.e., profit) to two firms that must decide between an average
You are division manager at Toyota. If your marketing department estimates that the semiannual demand for the Highlander is Q = 100,000 – 1.25P, what price should you charge in order to maximize
Make sure you give complete definitions andexplanations for this set of questions. When dealing with thedecrease in income, you will want to talk about the effects on thebudget constraint and the cons
Which bond would you expect to pay a higher interest rate? Explain why.
Calculate the elasticity of demand and elasticity ofsupply; what do you conclude from these answer
Suppose that the deposit multiplier in a particular economy is 5. In this simple economy, banks hold no excess reserves and the public uses checking deposits rather than holding currency.
Globalization and global trade have led to increased competition in world markets and increased allocation of scarce resources. Is it accurate to say that this is contributing to increased consumer su