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Eagle Properties, a real estate investment and sales firm, presents a form contract to its customer Floyd, who wants to buy a certain quarter acre of land in a proposed housing subdivision that Eagl
Evergreen Landscapers, Inc., owes Friendly Finance Company $5,000. Evergreen enters into a contract with Suburban Office Park under which Evergreen promises to maintain the landscaping on Suburban's
The country of Cheapland currently has a national health insurance system that reimburses citizens for 90% of all heath care costs incurred. Cheapland's government is considering a policy change tha
If you could choose to work as many hours during the week as you wanted at a given per hour wage rate, to what level would the per hour wage rate have to be before you would begin to choose fewer hour
How would the four basic markets of the macro model (Aggregate Demand and Supply, Long Run Supply, Labor, Credit or Money, Capital change) change in response to the catastrophe in japan. Most import
Jon Mitchell runs a small, very stable newspaper company in northern Georgia. The paper has been in business for 23 years. The total value of the firm's stock is $2 million, which Jon owns outright.
assume that you have been asked estimate the benefits associated with starting an ecotourism project where visitors will be given guided tours of a particularly rich habitat area. 1- what are the ma
The Fed sells $100,000 in Treasury Bonds to Chase Bank in the secondary market. a) What happens to the monetary base as a result b) If the reserve requirement is 20%, c=0.5 and e=0.001, what happens t
Consider a monopolistic firm producing a good with the following cost funciton C(y) = ay where a > 0. The firm faces the following demand function D(p) = Bp-n where B, n > 0. This kind of demand
The market for taxi services in a Midwestern town is monopolized by firm 1. Currently, any taxi services firm must purchase a $40 thousand "Medallion" from the city in order to offer its services. A
As part of their chores on Saturday mornings, they have to clean the bathrooms and wash the floors of the house while their parents go grocery shopping. In one hour's time, Mike can clean two bathro
(a) Assume a competitive labor market. Draw the demand of labor curve for an individual firm. Assume that the firm faces a labor supply curve that is neither perfectly inelastic nor perfectly elasti
describe some forms of private spending that represent consumption and some forms that represent investment. The national income accounts include tuition as a part of consumer spending. In your opin
Suppose that society decided to reduce consumption and increase investment. A) how would this change affect economic growth B) what groups in society would benefit from this change What groups m
Two firms compete in a market to sell a homogenous produce with inverse demand function P = 400 - 2Q. Each firm produces at a constant marginal cost of $50. Use this to compare the output and profit
Suppose OPEC breaks apart and oil prices fall substantially. Initially, which curve shifts in the aggregate supply/aggregate demand modell In what direction does it shift? What happens to the price
How is the Patient and Affordable Care Act of 2010 (the "Health Care Reform Act") likely to reshape financial arrangements between hospitals, physicians, and other providers if Medicare makes a sing
a. Use the theory of liquidity preference to illustrate in a graph the impact of this policy on the interest rate. b. Use the model of aggregate demand and aggregate supply to illustrate the impact
Do you think the argument against redistributing income through income taxes based on reducing economic efficiency is a strong one. Provide an example where a business did not expand because the poss
All of the firms will submit sealed bids. The procurement officer will look at all of the bids and select the lowest bid but pay to the lowest bidder a price equal to the price bid by the second low
Describe the output and price effects that influence the profit-maximizing decision faced by a firm in an oligopoly market. How does this differ from output and price effects in a monopoly market
After a given time period, due to investment and technological advances, which cost the monopolist an increase in TFC, results in a cost of production decrease to ATC2 and its corresponding supply t
Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her
The bonds are identical in every way (e.g. they have the same coupon payment, maturity data, etc.), except that A is "riskier" than B - i.e. you think the probability of full payment of principal an
b. Suppose the Fed makes a $2m open market sale. What happens to total deposits and the money supply What happens to total loans + security holdings of banks c. If banks collectively borrow $3m from