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Larry, curly, and Moe run the only saloon in the town. Larry want to sell as many as possible without losing money. curly wants the saloon to bring in as much revenue as possible. Moe wants to make
Suppose that there are two stores, A and B, that sell homogenous good. Suppose that the two stores are located on the real line: store A is at 0, while store B is at 1. Derive the demand functions f
Two important policy goals of the government and the Fed are to keep unemployment and inflation low, while at the same time making sure that GDP is increasing at an average of 3% per year. It is impor
Based on the analysis of the data, share your thoughts on what caused the financial crisis and whether the United States is going in the right or wrong direction with its current policies.
Assume that the Current Account Balance is initially positive for one country. Assume that a permanent positive shock to production affects the country which initially had a positive current account
Suppose that the return on domestic bonds held by foreigners in country i are subsidized at the rate s and that returns on domestic bonds held by residents of country j are taxed at the rate. Write
Suppose that a car dealership wishes to see if efficiency wages will help improve its salespeople's productivity. Currently, each salesperson sells an average of one car per day while being paid $20
What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.) What fiscal policies and monetary polici
Using macroeconomic data from the Bureau of Labor Statistics (or similar sources), identify the current state of the economy and the role of fiscal and monetary policy stimuli to manage the country'
How do economists distinguish between the absolute and relative sizes of the public debt. Why is the distinction important Distinguish between refinancing the debt and retiring the debt. How does an
Jane quit her job at IBM where she earned $50,000 a year. She cashed in $50,000 in corporate bonds that earned 10% interest annually to buy a mini-bus. Jane has decided to buy the mini-bus and set u
An airline transportation consultant offers the CEO of BlueStar, a struggling new commercial airline company, the following advice concerning the airline's high operating costs in the current quarte
Show the change in the balance sheet of the commercial bank receiving this money after it has been transferred to the Federal Reserve, but before it has had time to expand loans at all.
Suppose the price of unleaded regular octane gasoline were 20 cents per gallon higher in New jersey than in Oklahoma. Do you think there would be an opportunity for arbitrage
An insurance company is considering issuing three types of fire insurance policies: (i) complete insurance coverage, (ii) complete coverage above and beyond a $10,000 deductible, and (iii) 90 percen
The following data(stored in the file Wholefoods1)compared the prices of some kitchen staples at the new Whole Foods market and at the Fairway supermarket located about 15 blocks from Time-Warner bu
Discuss why it is necessary for accountants to assume that an economic entity will remain a going concern. If an entity was perceived to be short term, what effect would that have on the accounting
A friend is explaining how supply and demand works using McDonald's hamburgers as an example. You question his examples, saying that the assumption that there must be many sellers and buyers is not
In the market for organs for transplant, such as kidneys and hearts, the price is constrained to equal one. Opposition to any type of remuneration for donating organs has been all but absolute from
There is a great deal of uncertainty about how likely it is that we will experience a bio-terrorist attack using smallpox. Does it still make sense to rely on estimates of costs and benefits when it
Taxicab fares in most cities are regulated. Several years ago taxicab drivers in Boston obtained permission to raise their fares 10 percent, and they anticipated that revenues would increase by abou
In spite of the fact that firms do not make payments on resources they own, these resources still have an opportunity cost. How is this possible, and how does this affect a firm's efforts to maximiz
Calculate the point price elasticity of demand and point income elasticity for peaches at the equilibrium. Also calculate the point cross price elasticity between peaches and apricots at the equilib
You manage Gofer Delivery Services. You rent a truck for $50 a day and each delivery takes an hour of labor time. The hourly wage is $8. Draw a curve showing the relationship between the number of d
Suppose the federal reserve's trading deal buys $500,000 in T-bills from a securities dealer who then deposits the fed's check in best national bank. Use a balance sheet to show the impact on the ba