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Johns goes to a football game and buys a ticket for $75. He has to take off two hours of work to go to the game. he earns $15/hr at work. His drive to the game requires $7 in gas. Given this informati
Are better than budget deficits over the long run because unlike budget deficits, they increase saving and investment.
The market demand is given by Q=320-8P. Monopolist's MC=10. a. Calculate the profit maximizing monopoly output and price. b. What is the Lerner-Index of market power for this monopoly
Points Given constant quantities of all other factors of production, when additional units of a variable factor of production add less and less to total output, then the firm is experiencing:
All investors will prefer a portfolio with expected return 10% and standard deviation 6% to a portfolio with expected return 10% and standard deviation 8%. as true or false, and explain.
Which of the following flows from the government to the households, according to the circular flow diagram? A)Goods and services
If the inflation rate is 18%, the nominal rate of interest on the CD is 24%, and the interest is taxable (at a rate of 25%), what is the after-tax real interest rate on the CD? Hint: first calculate t
Which of the following observations is true of the federal budget between 1960 and 2010? A)The federal budget was in deficit in the early 1960s
According to the World Bank, low-income economies are heavily concentrated in: A)Europe and Africa B)Europe and Asia C)Asia and Africa
In economics, we usually assume that the manager's goal is to: Answer Maximize the firm's sales. Minimize the firm's costs. Maximize the firm's profit. Maximize the firm's stock price.
How an economy's resources are to be owned, how decisions about the resources are to be made
A us dollar cost 7.5 Norwegian kroner, but the same dollar can be purchased for 1.25 francs what is the Norwegian krone/ Swiss franc exchange rate?
Compare and contrast the demand curve for public goods and the demand curve for a private good. Evaluate the impact of the current trend toward the expansion of government services.
If a company invents a process that saves 280,000 per year - how much can the company afford to invest if they need to earn 20% per year and they want to recover their investment over a 10 year period
Suppose that the Fisher hypothesis holds for an economy that an expected real interest rate of 2 percent. For each of the expected inflation rates of 0, 2, 4, 6, and 8 percent, calculate the nominal i
Bob views apples and oranges as perfect substitutes in his consumption, i.e., MRS = 1 for all combinations of the two goods. Suppose the price of apples is $2 per pound
If you now have 62,500$ in your retirement account and you want to retire when the account is worth 2 million, estimate the rate of return that the account must earn if you want to retire in 20 years
How would the following changes in price affect total revenue? That is, would total revenue increase, decrease, or remain unchanged? LO2 a. Price falls and demand is inelastic
A firm is focal point for a set of contracts. Explain the problems that (1) agency relationships, (2) asymmetric information, and (3) adverse selection can introduce to building a successful contract
Suppose Natasha currently makes $50,000.00 per year working as a manager at a cable TV company. She then develops two possiable entrepreneurial business opportunities
In order for Ireland to grow more potatos, wool production must decrease. If wool and potatoes were the only two goods Ireland could produce, this situation is an example of
On the production possibilities frontier graph, the closer the economy's production is to the origin of the graph and the farther away it is from the PPF,
What are the major differences between capitalism, communism, and socialism? B. Discuss the three major economic indicators and how they are indicative of our current economic climate.
Briefly explain whether each of the following is primarily a microeconomic issue or a macroeconomic issue. a. The effect of higher cigarette taxes on the quantity of cigarettes sold
The demand for haddock has been estimated as Log Q = a+b log P+c log I+ d log Pm Where Q = quantity of haddock sold in New England P = price per pound of haddock