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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?
Explain do third-party reimbursement, the professional licensure, and nonprofit organization make it easier or harder to adjust health care spending to changes in prices?
Discuss why do general tax revenues pay for so much personal health care? Who will pay if (when?) the Medicare trust fund runs out of money?
Assume the U.S. dollar price of a Big Max is $3.57. The price in the China is 12.5 yuan. If the current exchange rate equals 6.83 yuan per dollar, is the yuan over-or undervalued against the U.S. d
Discuss does the Food and Drug Administration, or any other agency that regulates the health, operate in the interest of the public, in the interest of the people who work there, or for the
Discuss how much do you have to pay for a bond rate that pays 6% dividend compounded semiannually, with a face value of $5,000 that is going to be paid (maturity) in the five years. The buyer wants
Suppose that the union's utility function is: U=Wδ E(1-δ) , where 1>δ>0, and the firm's production function is Y=πE0.5, where π>0. Solve for mathematical expressions
A monopolist tattoo parlor has as customers both senior citizens and students. There are 100 senior citizens who value a tattoo at $30, and 100 who value it at $40.