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A 40-day strike at Boeing resulted in 50 fewer deliveries of commercial jetliners at the end of the first quarter of 2000. At a cost of $20 million per plane, what was the equivalent end-of-year co
To get a gallonof sunscreen the people of Sunland are willingto give up 5 lbs of food if they have 25 galons of sunscreen, 2 lbsof food if they have 75 gallons of sunscreen, and 1 lb of food ifthey
Jack's hourly wage is $60 and themarginal value of his time in the household is $25 per hour.Jill's hourly wage is $50 and the marginal value of her timein the household is $20 per hour. Who will sp
a cost index was created to track the cost of construction ina particular county. 25 years ago the costs of construction was $12 per square foot so the index was set at 100 that first year this past
e. Suppose that full employment equilibrium willoccur at Y = 4000. What kind of gap exists f. How much will government purchases have toincrease or decrease to reach full employment equilibrium g. How
Suppose that the AS curve isupward sloping. Will the change in government purchases or the change in taxesyou have recommended above move the economy to an output level of 4000.
Keeping in view this notion, assume that Investment (I) = 100, Savings (S) = 120, Exports (X) = 40, Imports(M) = 30, Taxes (T) = 40, Government Expenditures (G) = 50a. Point out the leakages and injec
Given the utility function U(X,Y)=X^0.5+Y^0.5for John. a) Do the preferences indicated diminishing marginal utility for Xand Y b) If john has income of 30 dollars. What is his demandcurve/equation for
Currently, she is producing her own cookies, and she has revenues of $260,000 per year. Her costs are $40,000 for labor, $10,000 for rent, $35,000 foringredients, and $5,000 for utilities. She has $
A company that manufactures in-line mixers for bulk manufacturing is considering borrowing $1.25 million to update a production line.If it borrows the money now, it can do so at an interest rate of
(a) select an appropriate economic criterionand estimate the production rate based upon it. (b) how could you maximize output with minimum input . explain
the vegetable buyer for a group of a grocery stores hasdecided to sell pakages of sprouted grain in the vegetable sectionof the stores. the product is pereshable and any remaining unsold after one w
Suppose that a firm's only viable input is labor. The firm increases the number of employees from four to five, thereby causing weekly output to rise by two units and total costs to increase from $3
In a short run, a firm's total costs of producing the hundredth unit of output equals $10,000. If it produces one more unit, its total cost will increase to $10,150. a. What is the marginal cost of
Average variable cost at this output level equal $15 per unit, and average fixed costs equal $5 per unit. What is the firm's profit-maximizing (or loss maximizing) output level What is the amount
What are 2-3 relationships between the economic concern you selected and that specific country's economy What trends do you see in the data sets Support your assertions of the trends with
Consider the market for DVD movie rentals, which is perfectly competitive. The market supply curve slopes upward, the market demand curve sloped downward, and the equilibrium rental price equals $3.
Suppose that the price of a service sold in a perfectly competitive market is $25 per unit. For a firm in this market, the output level corresponding to a marginal cost of $25 per unit is 2,000 unit
A family is taking a 10 day vacation, the only one possible due to busy schedules. 2 possiblilities: Someone will get sick and ruin vacation (so no vacation days) or no one will get sick and they wi
Suppose the central bank wants to achieve an inflation rate equal to 1% and the current growth rate of real GDP is 2%. If the quantity theory of money holds, what should the Fed set the money growth
utilize your knowledge of supply/demand analysis and show graphically the impact of a government minimum wage of $6 hour with a market wage for unskilled workers of $7 hour with 1 million workers em
Solve for an expression for the change in equilibrium GDP for anincrease in government expenditures equal to ΔG when taxes are held constant. An algebraic version of the simple model of the econ
Various financial data for 2007 and 2008 follow. Calculate the total productivity measure and the partial measures for labor,capital, and raw materials for this company for both years.
the short-run price elasticity of demand for tires is 0.9. If an increase in the price of petroleum (used in producing tires) causes the market prices of tires to rise from $50 to $60
Despite the economic progress that the U.S. has observed in thepast century, the standard of living remains extremely low in manycountries. Consider the following regarding poverty in developing cou