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(Craft Unions) Both industrial unions and craft unions attempt to raise their members' wages, but each goes about it differently. Explain the difference in approaches and describe the impact these d
how do we calculate the retail price index what are the problems of using the retail price index what are the advantages of inflation what are the disadvantages of inflation what are the remedies for
If a local movie theater sells tickets at different prices (senior citizens versus young people, matinee versus evening prices) is the local movie theater a monopoly What about the concession stand
Suppose the Fed expands the money supply, but because the public expects this Fed action, it simultaneously raises its expectation of the price level. What will happen to output and the price level
The kinked demand curve in an oligopolistic market is defined by the equations: P = 140 - 0.5Q, and P = 200 - 2Q. a) Derive equations for the marginal revenue curves. b) Determine the price and quanti
In health care, most physicians and facilities are paid for services rendered instead of the quality of the performance, known as pay for performance. Discuss how current trends in consumerism may c
Find a market price for hydrogen gas and normalize the energy content compared to the current local price of gasoline. Using octane as an approximation for gasoline energy content, compare the cost
Contrast the market demand/supply curves and the individual firm's labor supply/demand curve in a perfectly competitive labor market. How does the law of diminishing marginal returns affect a firm's
the production possibility frontier model showed the tradeoff between current consumption and capital goods. Explain the role of saving in this model and how increased saving will lead to greater ec
How much can Wells Fargo lend to developer who will repay the loan by selling first 6 view lots out of 13 lots at $190,000 each 2 year from now Assume the bank will lend at a nominal 14% per year, c
For the argument in favor of state subsidies, draw (by hand is OK, but make sure it's neat) a supply and demand diagram that shows the positive externality, the effect of the subsidy, the market out
What is the internal rate of return for a cab if it is retired at the end of its economic service life What is the internal rate of return for a sequence of identical cabs if each cab in the sequenc
a) If the Fed requires banks to hold 5% of deposits as reserves, how much in excess reserves does First national now hold b) Assume that all other banks hold only the required amount of reserves.
As a policy maker concerned with correcting the effects of gases and particulates emitted by and local power plant, answer the following What two policies could you use to reduce the total amou
Explain the alternative adjustment path that would result from the stimulus and compare it to the adjustment that would have occurred if the government had not responded to the recession.
Evaluate the following policies in terms of their effect on "the greatest happiness the greatest number." (Think about market failures and failures of markets: how do the policies suggested correct
Would warehouse operators insist on owning their own trucking companies Why or why not What coordination and control problems and contractual hazards would these companies encounter What organizatio
As baby boomers retire. What will happen to supply and demand Will we use our surplus and how shown in a graph. Show aggregate demand/supply etc. should the solow growth curve be part of the graph
T = 1,200 (taxes - non-income) What is the multiplier associated with each policy program (i.e. the multiplier AFTER the program is implemented - just the number please)? Which policy program promo
Smallville is running a budget deficit. Two policy programs are proposed: (1) eliminate the deficit by cutting government spending and (2) eliminate the deficit but raising taxes. Which program has
Consider the following model of a closed economy (Smallville): MPC = 0.8 - 0.01Y (marginal propensity to consume) C = MPC x YD (consumption function) YD = (Y - T) (disposable income)
How much percent can we expect the price of rental apartments to rise after the law is enforced, if we know that we expect an additional rise in demand for rental apartments which will cause an addi
Nowadays, China drives the global economy. So if the trade barrier is reduced, the Chinese economy will go down and affects the economy of the whole world. Do you agree or disagree with this arg
Compare and contrast the behaviour of the indicators for the United States with those for the Australian economy and which industry experienced the highest rate of growth in the twelve months March qu
Find a functional relationship between Y and i, expressed as a function where Y depends on i (i.e. Y(i) ), such that the Quantity Theory of Money would hold