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Assume you are central bank governor of a country which is experiencing inflation of 100% per month and you have two economic advisors. One advisor tells you that in order to increase seignorage you
A large city currently provides the free water service to residents. The marginal social cost of making a gallon of water available per month is calculated to be 5 cents no matter how much water is
How does the intra-city truck affect rents in different parts of the CBD? Can you think of any examples, from personal experience, of cities that are not monocentric?
Discuss how banks are financial intermediaries. What are reserves and what are excess reserves? Discuss how the Fed can affect the quantity of excess reserves in the banking system.
Given the two conditions from (2) and (3), determine the optimal bundle (x*, y*) that Mr. J will choose in order to maximize his utility.
Calculate the price elasticity of demand at a price of $24? If the price of baseballs is $24, should the firm raise or lower their price if they want to increase their total revenue.
Competitive factor markets and fixed supplies of the factors of production, graphically illustrate the impact of a change in immigration policy in a country that permits a huge influx of f
Interpret the following statement: A recent poll indicates that popular support for the mayor is 47.5% with a margin of error of +/- 3.5 percentage points 19 times out of the 20.
Explain what does the acronym "iid" mean and how does it relate to sampling? Discuss why is it critically important to an econometric analysis to convincingly show the random nature of the data used
Describe independence among two random variables. If X and Y are independent, then Cov(X,Y) = 0. Why is the converse false? Maintain your answer by providing a counterexample to the converse.
Independence Burgers serves fast food at its 300 franchised across the South. The chain has recently found that (a) people are upgrading to restaurants when they eat out
Calculate the limits to the United States long-term economic growth? Is there anything that our government can do to address these limits, or would it be a bad idea to try?
Suppose D represents the level of decentralization of corporate decision-making. The benefits of decentralization, denoted the B, = 3D and the costs of decentralization, denoted, C = 2D + 2
Calculate the probability that at least three workers take public transportation daily (to 4 decimals) in a sample of 9 workers?
Explain the three key managerial insights from the Game Theory, as they relate to the Costco's move to announce that they were closed on thanksgiving and that they care about their employees.
Discuss how low can the Federal Reserve lower the Real interest rate? How much output is recovered? Is it enough to push the economy back to potential?
Explain why would China want its own currency to be devalued relative to the U. S. dollar? Discuss how does China maintain an undervalued currency?
Explain the meaning of unit travel. When traveling on a greyhound bus, without obstruction or intervention, it is important to determine the unit travel time.
The supply and demand curves of the market for DVD at the local (US) market are as follow: P = 30 - Qd/2 and P= -1.5 + Qs/4 Identify the equilibrium price and the equilibrium quantity when there is no
Discuss how do you think you might measure the net impact of technological change on overall employment and GDP in the United States?
Assume the market for frozen orange juice is in equilibrium at a price of $2.00 per can and a quantity of 4200 cans per month. Assume that at a price $3.00 per can, quantity demanded falls to the 30
What marginal revenue does the firm earn from sale of the output produced by the last worker employed? A firm hires labor in a completely competitive labor market.
State and defend an opinion on the following statement: "The debate about convergence is irrelevant for analyzing the real challenges facing less-developed countries."
The labor force grew by 2.2%, employment rose by 1.9%, the stock of capital expanded by 4.8%, and the share of capital income in GDP was 35%. GDP per worker rose 4% last year. Calculate the growth
Legalizing prostitution has been a controversial public and political policy issue in many states. Determine whether legalizing prostitution with regulation would be beneficial overall to society b