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An individual makes five annual deposits of $2,000 in a savings account that pays interest at a rate of 4% per year. One year after making the last deposit, the interest rate changes to 6% per year. F
Proponents of free market systems argue that free enterprise leads to more efficient production and better response to changing consumer preferences. Others point to the fact that markets are not perf
If a taxpayer has a beginning inventory of $25000, Purchases of $185,000 and ending inventory of $30,000. What is the amount of the cost of goods sold for the current year?
Recall that money serves there functions in the economy. What are those functions? How does inflation affect the ability of money to serve each of these functions?
Explain how the marginal principle and the pollution tax work together to determine the optimal amount of pollution abatement.
One-tenth of the participants produce over one-third of the output. increasing the number of participants merely reduces the average output." if this statement were true, would it be consistent with t
Is it price discrimination when a professional football team charges say, $150 per ticket for 50-yard-line tickets in the lower deck and $50 per ticket for upper-deck tickets overlooking the end zone?
If every $1,000 increase in the real price of homes adds 5 cents to annual consumer spending (the “wealth effect”), by how much did consumption decline when home prices fell by $2 trillion
Business has fallen off greatly at your upscale restaurant because of the economic crisis. List four things you can do to win back the loyalty of your past costumers.
Explain why the price elasticity of demand for turkeys is likely to be lower but the price elasticity of demand for turkeys at a PARTICULAR STORE is likely to be greater at thanksgiving than at other
How much can Jack consume this month, if he consumes his whole income from this month, and borrows against the whole income next month? Similarly, what is most that Jack can consume next month?
Draw what would happen to equilibrium if both supply and demand shifted to the right at the same.What happens to equilibrium quantity and price?
It is often argued that this policy increases the technological capability of American producers relative to that of foreign firms. Is this argument consistent with your classification of basic resear
Why does a tax on a product that has a negative externality help get the market closer to the social optimum?How does the tax change the behavior of the consumer or producer?
A couple starts saving for their retirement by putting $1000 at the end of this year and increasing the savings by 5% each year. If the savings earn 6% annual interest, what would be the value of thei
An engineering student bought a $75 bicycle and agreed to pay for it with a single $85 payment at the end of six months. Assuming semi-annual compounding, what is the annual, effective interest rate?
To repay a $1000 loan, a man paid $90 at the end of each month for fifteen months. What was the (annual) nominal interest rate? Assume monthly compounding.
If a credit card company charges 3% each month on the unpaid balance, compounded monthly, what is the effective annual rate?
If the two spoke, could they find some terms of trade that would make it at least one better off without making the other worse off? How?
At a furniture company, customers who purchase on credit, pay an annual effective interest rate of 36% based on monthly compounding. What is the nominal, annual interest rate they pay?
If a country imports more than it exports, describe three methods that residents of that country have to pay for the extra imports from foreign producers (i.e. changing ownership of assets or liabilit
How does the behavior of the banking system in lending money influence the money multiplier between base money (cash and reserves) and the actual money supply (M1)?
Using the library or the Internet, find some recent projections for the future path of the U.S. govt. debt as a percentage of GDP. What assumptions are made about (i) govt. spending, (ii) taxes, and (
Identify and discuss the tests used to determine whether a law complies with the equal protection clause?
A country with a civilian population of 120000 (all over age 16) has 100000 employed and 10000 unemployed persons, of which 5000 are frictionally unemployed and another 3000 structurally unemployed.