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In economics, we usually assume that the manager's goal is to: Answer Maximize the firm's sales. Minimize the firm's costs. Maximize the firm's profit. Maximize the firm's stock price.
How an economy's resources are to be owned, how decisions about the resources are to be made
Suppose that the Fisher hypothesis holds for an economy that an expected real interest rate of 2 percent. For each of the expected inflation rates of 0, 2, 4, 6, and 8 percent, calculate the nominal i
How would the following changes in price affect total revenue? That is, would total revenue increase, decrease, or remain unchanged? LO2 a. Price falls and demand is inelastic
Suppose Natasha currently makes $50,000.00 per year working as a manager at a cable TV company. She then develops two possiable entrepreneurial business opportunities
What are the major differences between capitalism, communism, and socialism? B. Discuss the three major economic indicators and how they are indicative of our current economic climate.
The demand for haddock has been estimated as Log Q = a+b log P+c log I+ d log Pm Where Q = quantity of haddock sold in New England P = price per pound of haddock
The interest rate on a ten-year Treasury bond is 9.25 percent. A comparable-maturity Aaa-rated corporate bond is yielding 10 percent. Another comparable-maturity, but lower-quality, corporate bond has
Which economic system is best suited for handling a crisis of epic proportions (hurricane, flood, blizzard, forest fire, etc.)? Why? Describe and explain why a socialist system might be
Leigh will use 16 connecting cubes to make a model of a playground.The model will be in the shape of a rectangle and will have a heigh of one cube. in how many different ways can leigh make the model
Determine the present worth of a geometric gradient series with a cash flow of $50,000 in year 1 and increases of 6% each year through year 8. The interest rate is 10% per year.
Long-run real interest rates are expected to increase. An accountant and an MBA student (who just finished his course ofManagerial Economics) where interviewed regarding the effect on the firm they bo
According to the quantity theory, in the long run, an increase in the growth rate of ________ leads to an increase in the ________ .real GDP; inflation rate the quantity of money; growth rate of real
The Federal Reserve was established in 1913 and is, therefore, a “creature of Congress.” The President of the United States nominates members of the Board of Governors of the Federal Reser
Shaniq buys only soda and pizza and is buying the amounts that maximize her utility. The marginal utility from a soda is 30 and the price of a soda is $2. The marginal utility from a slice of pizza is
$10,000 is exchanged into Swiss francs at an exchange rate of $1 = 2 SF to buy the bonds. How many dollars will the investor have after one year if the exchange rate is then $1 = 1.5 SF?
A country's current unemployment rate is below its natural rate of unemployment and its inflation rate is high. what type of macroeconomic equilibrium is the economy facing?
In the New Orleans metropolitan area in August 2005, the labor force was 634,512 and 35,222 people were unemployed. In September 2005 following Hurricane Katrina
Different nations answer the what, how, and for whom questions differently. China for instance, builds dams using many workers and only a little capital equipment.
The New England Soap Company is considering adding some processing equipment to the plant to aid in the removal of impurities from some raw materials. By adding the processing equipment, the firm can
Venus Computer can produce 23,000 personal computers a year on its daytime shift. The fixed manufacturing costs per year are $2 million and the total labor cost is $9,109,000.
What are the four sources of market failure? Explain how each of them causes individual profit- and utility-maximizers to make decisions that may be privately optimal but are socially suboptimal. What
Jasmine’s Snack Shop sells two brands of potato chips. She produces them by buying them from a wholesale supplier. Brand X costs Jasmine $1 per bag, and Brand Y costs her $1.40.
What is the prospective rate of return after taxes if straight-line depreciation can be used to write off these assets for tax purposes in 8 years?
The annual income from a rented house is $12,000. The annual expenses are $3000. If the house can be sold for $145,000 at the end of 10 years, how much could you afford to pay for it now, if you consi