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Knappland is at Y = Yn , ue = uen , and P = Pe. President Ewe is concerned about the upcoming election. He pushes tax cuts through the legislature. a. Use the AS-AD to illustrate the effects of the
For both sets of calculations, compare the firm's output price and the calculated average variable cost and average total cost. Should the firm shutdown immediately when the total fixed cost equals
Calculate the NPV of the cash flows expected in 2006-2010 using only the 2005 Cost of Capital Calculate the NPV of the cash flows using the CASH FLOW figures at the bottom of the spreadsheet
Choose a product you have purchased in the past month from a clothing or shoe store. Describe how each of the 4 factors contributed to the elasticity of the good. Is the product considered elastic, in
Recently, the Boeing Commercial Airline Group ( BCAG) recorded orders for more than 15,000 Jetliners and delivered more than 13,000 airplanes. To maintain is output volume, this Boeing division Comb
Assuming that all firefighters must be at least 67 inches tall, how does this height restriction affect the wage the city must pay to attract five firefighters, and how does the restriction affect t
Your firm produces clay pots entirely by hand even though a pottery machine exists that can make clay pots faster than a human. Workers cost $80 per day and each additional worker can produce 20 mor
A firm uses labor and machines to produce output according to the production function f(L,M)=4L raise to 1/2 M raise to1/2 where L is the number of units labor used and M is the number of machines.
where C represents consumption, DI represents disposable income, I represents investment, G represents government purchases, T represents net taxes, Y represents real GDP, X represents exports, and
Suppose that an economy has the Phillips curve p = p-1 - 0.5(u - u^n), and that the natural rate of unemployment is given by an average of the past two years' unemployment: u^n = 0.5(u-1 + u-2).
A monopolist faces a demand curve given by P = 70 - 2Q, where P is the price of the good and Q is the quantity demanded. The marginal cost of production is constant and is equal to $6. There are no
Suppose that the w=1, r=4 and the production function is given by: Q = K1/3L2/3. This means that the . Suppose that the w=1, r=4 and the production function is given by: Q = K1/3L2/3. This means tha
b) Give the mean and standard deviation of the sampling distribution of xbar2. c) Suppose you were to calculate the difference between the sample means (xbar1-xbar2). Find the mean and standard devi
office building maintenance plans call for the stripping, waxing and buffing of cereamic floor tiles. this work is contracted out to maintenance firms and both technology and labor requirements are
Suppose Tom and Jennifer placed $5,000 into a savings account that paid an interest rate of 6 percent. If the inflation rate was 4 percent over the year, what was the ex post real interest rate retu
Suppose a business is considering purchasing a $40,000 machine whose operation will result in increased sales of $30,000 per year and increased operating costs of $10,000; additional profits will be
Consider the economy of Hicksonia. A. The consumption function is given by C = 200 + 0.75(Y-T) Investment function is I = 200 - 25r Government purchases and taxes are both 100.
Suppose a monopolist faces the following demand curve P = 596 - 6Q. Marginal cost of production is constant and equal to $20, and there are no fixed costs. a) What is the monopolist's profit maximizin
given that an economy;s production function is Y=F(K,L)=K0.3L0.7. Assuming that the depreciation rate is 10%/year. What's the steady state capital per worker, output per worker, and consumption per
assuming that no population growth or technological progress occurs, find the steady-state capital stock per worker, output per worker, and consumption per worker as a function of the saving rate an
given that Country X and Z both have the production function: Y=F(K,L)=(K.L)^1/2. Assume that neither countries experience population growth or technological progress, while 5% of capital depreciate
Use the capital-asset pricing model to predict the returns next year of the following stocks, if you expect the return to holding stocks to be 12 percent on average, and the interest rate on three-m
Suppose that the price of a stock is $50 at the beginning of a year and $53 at the end of the year, and it pays a dividend of $2 during the year. Calculate the stock's current yield, capital-gains y
Consider two duopolists whose cost functions are Ci = 10qi, i = 1, 2, where Ci and qi are their costs and outputs, respectively. The two duopolists have identical products and face a market demand f
Suppose that ranchers can buy up to a collective total of 200 cows and run them on the open range. The value of each cow after it has grazed is given by V= $2000-10C, where C is the total number of