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A sharp decrease in housing prices makes people much less wealthy. If the primary effect of this decreased wealth is felt on labor supply, what happens to the level of employment and the real wage rat
Now assume the Fed increase the money supply by 10% and volcity remains unchanged?
Suppose the Fed decided to purchase $30 billion worth of government securities in the open market. What impact would this action have on the economy?
Rate if investment (billions)$12 $12 $15 $16 $17 $17 $17 (a) At what rate of interest does the liguidity trap emerge?
In a situation in which a gift certificate leads a consumer to purchase a greater quantity of an inferior good than he or she would consume if given a cash gift of equal value. Is this always the case
Your cousin has just bought a used car for $6000.He is to pay for it as follows.A $2,000 down payment and 24 end of month payments of $177.28.What nominal annual interest rate is being paid?What is th
The # of people living on less than $1/day can be calculated using either market exchange rates or purchasing power exchange rates. Which will be larger? Why?
The market for a product is expected to increase at an annual rate of 8%. First year sales are estimated at $60,000, the horizon is 15 years, and the interest rate is 10%. What is the present value?
Why is market competition important? Is there a positive or negative impact on the economy when strong competitive pressures drive firms out of business? Why or why not?
Explain the difference between accounting and economic profits.
How would a communist economy, a market economy and a mixed economy react to technological changes? How wold they react to social changes? What is the role on nature in these three economies?
There are 168 hours in a week. Of these, about 60 hours will go to sleeping (more or less). That leaves 108 hours for which we have a choice in terms of how we will spend that time. Let’s assume
Suppose that you bought an asset that pays 6% nominal interest rate, you expect that inflation rate to be 1%, and the actual inflation is 4%. Calculate the expected real interest rate and the actual r
What is the expected value of the lottery? What is the variance of the outcomes?
Using the values of DOL calculated above, calculate the profits for a 10% increase and 10% decrease in quantity.
Is this technology characterized by economies of scale? What is marginal cost and how does it compare to average cost?
A new tennis court complex is planned. Both alternatives will last 18 years, and the interest rate is 7%. Use present worth analysis to determine which should be selected.
Supposed the USA and Canada are considering to trade. Assume there are only two goods in the economy; wheat and corn. USA 4 (units of wheat), 2 (units of corn); Canada 5 (units of wheat), 8 (uni
What factors amount for the rapid growth of the world trade since the second world war? Who are the major players in international trade today? Besides China and Japan, what other Asisan nations play
What are the major fiscal policy positions of the Republican and Democratic parties? What do the differences between their positions mean for public policy?
A father goes to the pharmacy late at night for cold medicine for his sick child. all medicine have almost the exact ingredients brand names sell for more. Explain, in economic terms this situation to
How does the demand curve faced by a purely monopolistic seller differ from that confronting a purely competitive firm? Why does it differ? Of what significant is the difference? Why is the pure monop
What groups in society would you expect to be the most enthusiastic about Adam Smith's ideas? Why? What groups might be expected to oppose them?
What is the consumer price index (CPI)? How is it measured? What are the pros and cons of using the CPI as a measure of the cost of living? Use examples in your response.
How would you advise your friend relative to monitoring changes in the business cycle (i.e. identifying expansion vs. contraction of the economy)?