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The publisher of an on-line Economics Primer course is trying to sell the primer to a group of MBA students and a group of EMBA students in the US. The maximum willingness to pay and the number of s
Assume Company X deposits $100,000 in cash in Commercial Bank A. If no excess reserves exist at the time this deposit is made and the reserve ratio is 20 percent, Bank A, by itself, can initially in
In addition to depending on disposable income, suppose household consumption were also a function of the interest rate. In particular, assume that households consume more (i.e., save less) when the
Suppose that every driver faces a 1% probability of an automobile accident every year. An accident will on average cost each driver $10,000. Suppose there are 2 types of individuals:those w/$60,000
Discuss the various ways governments can handle externalities, such as noise from a local airport or a barking dog or building of commercial office space or an industrial building in a residential a
Assuming no change in hours of work, if real output per hour of work increases by 10 percent, what will be the new levels of real GDP in the right column of A Does the new data reflect an increase i
If actual output is beneath potential output, then fiscal policy advocates are most likely to emphasize: A) the supply-side effects of expansionary fiscal policy. B) the demand-side effects of expansi
(a) What is mean by that? Explain "strategic behavior" and relate that to the "Kinked Demand" model of oligopoly. (b) Explain the importance of mergers in oligopolistic markets. Is there much price
One of the questions in a survey of high school students asked about lying to teachers. The following table gives the number of students who said that they lied to a teacher at least once during the
(a) What is mean by that Explain "strategic behavior" and relate that to the "Kinked Demand" model of oligopoly.(b) Explain the importance of mergers in oligopolistic markets. Is there much price co
How can the market "fail" If indeed it can, outline the ways the government can either reduce or eliminate such possibilities. Then why are some politicians or heads of government want almost all pu
Our economy is currently in recession so let's discuss how discretionary Fiscal Policy can help the situation. Please explain why tax cuts may be needed now and why we see budget deficits going up d
What did the Federal Reserve do during the financial crisis of 2008 and 2009 How did the recent financial crisis affect the financial services industry What are some of the major provisions of the W
Suppose your marketing department does a survey of potential users and finds that these users place the following values on the two versions of your software If the numbers of home and commercial us
Sometimes it is convenient to think about the consumer's problem in its "dual" form. This alternative approach asks how a person could achieve a given target level of utility at minimal cost. Develo
1.What is the Federal Reserve (Fed) all about 2.Who is the current Chairman of the Fed 3.Should the Fed remain independent from political authority or should the President and Congress have a say in
4.How did mortgage-backed securities spread losses during the mortgage default crisis 5.How does TARP illustrate the problem of moral hazard 6.What did the Federal Reserve do during the financial cris
Devise a hypothetical business situation in which buying a lookback call option on a commodity may be a sound strategy for you. How about a down-and-out call option
Read "A Possible Perspective on Growth and Stagnation Over the Past 200 Years" posted on Blackboard. a. Describe the 4 reasons that Acemoglu gives for why the world did not experience growth before 18
assuming the the merger in the automotive industry faces some threats and that the industry decides on self expansion as an alternative strategy, describe the additional complexities that would aris
Define and explain the relationship between total revenue, average revenue, and marginal revenue for a monopolist. What is monopoly profit Should a monopolist produce quantities of product greater t
At its current level of production, a profit-maximizing firm in a competitive market receives $12.50 for each unit it produces and faces an average total cost of $10. At the market price of $12.50 p
Jennifer contemplates installing certain new machines that will reduce the labor time required on certain operations. These will increase the connected load by 10hp, but since they will operate only
Can you explain how FISCAL POLICY (making changes to government spending and taxes) would affect Aggregate Demand (AD) How do these two mechanisms of expansionary policy differ