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Frank Ackerman makes 4 arguments for aggressive action to stop global warming. Estimate each of his arguments from the perspective of a young person, an elderly person without children, and a middle
Jane purchases the food and clothing and has the utility U(F,C) = 2FC with marginal utilities MUF = 2C and MUC = 2F. Let the PF = $2 and the PC = $10. Jane faces a weekly budget constraint $500.
Are we moving from virtuous circles in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority?
Discuss why would a chain such as Marriott tend to own its hotels in resort areas, such as national parks, where there is little repeat business and franchise hotels in downtown areas, where there i
The table below contains the different types of consumers' values for three software titles: Excel, Word and PowerPoint. Assume there are 100 consumers of each type.
Assume one economist believes the target rate of unemployment is 3.9 percent while another believes it is 4.7 percent. Using the Okun's rule of thumb, by how much would you expect their approximate
For example, in late 2004 the U.S. government could take out ten-year loans at an annual interest rate of slightly over 4 percent, whereas the annual rate it paid on loans of only three months' dura
Suppose the ticket has no resale value. You are offered a free ticket to see the Chicago Cubs play the Chicago White Sox at Wrigley Field. Willie Nelson is performing on the same night, and his conc
Discuss why the Kondratiev cycle may no longer apply to the study of the US economy and its business cycles? Couple of sentence will be enough.
Describe how monetary policymakers would respond (if at all) to stabilize economic activity for each of the following shocks. Suppose the economy starts at the long run equilibrium.
What is et1 that brings exchange rate back to long run equilibrium in t2. For uncovered parity interest the one year interest rate goes form 5%o 9%. The foreign interest rate is 5% and et0
Indicate the effect on the economy of a favorable permanent long run supply shock by using an AD/AS analysis. Discuss what factors can cause a positive permanent long run supply shock?
The yen appreciated relative to the dollar even though Japan's inflation rate was higher than America's in the mid-to-late 1970's. How can this be explained by an improvement in the productivity of
Demonstrate how the central bank maintains the par value of an under-valued exchange rate in a fixed exchange rate currency regime in a diagram. Provide a short explanation.
Discuss and show graphically the effect of an increase in the expected future exchange rate on equilibrium exchange rate, everything else held constant. Discuss what factors can cause an increase i
Assume that three products (X, Y, and Z) are consumed. You also know the price of each one. Explain what condition must hold in order to calculate the optimal consumption?
Consider the regression model, 1122iiiiyDMDMeββ=++, i= 1, 2,...,n. DMi1 is an indicator variable for men (DMi1 = 1 if the individual is male, 0 if not) and DMi2 is an indicator variable fo
Determine the minimum cost of producing 400, 800 and 1,200 units of output? Determine the marginal rate of technical substitution at each cost-minimizing equilibrium point?
Consider a set of N players participating in a sealed bid second-price auction, but suppose that there is complete information so that each player knows the valuation of every other player.
What does this imply about efficient trade when the Billie has a car for sale, of quality θ ∈ [0, 1]. Louis can make an offer p ∈ [0, 1] but only Billie knows the quality of the car.
What happens to the money supply and the net worth of all banks if the Federal Reserve buys $1,000 in bonds and the reserve requirement ratio is 0.5?
Assume there is a market that has market demand characterized as: X = 30 - P/3. Assume further that market supply can be written as: X = P/2 - 2.
Several American and European firms opened the "hyper marts" in the past few years, enormous stores that sold household goods, groceries, hardware, and the other products under one roof.
What is the advantage of having an explicit target? Determine the advantage of having an implicit target or no target at all? "Central Banks Around the World Try Inflation Targeting."
Why are new surgical techniques developed with public funds whereas the pharmaceutical research and the development is conducted privately by for-profit firms?