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Consider the econ of Opulenza. In Opulenza domestic investment was 400 milion and there was 20 million in capital gains or domestic wealth during 2007. Opulenzas purchased 120 million in new foreig
To meet the needs of its own citizens at their current level of consumption, industry-land needs 200 units each of raw materials, agriculture products, and manufactured goods. the total opportunity
What price and output will occur under pure competition? What price and output will occur under pure monopoly (assume one price is charged to all customers)?
An economy is in long-run macroeconomic equilibrium when each of the following aggregate demand shocks occurs. What kind of gap -inflationary recessionary- will the economy face after the shock, and
Suppose the Swiss franc rises against the British pound but falls against the Japanese yen. What happens to the prices of goods imported into Switzerland?
Determine the quantity in each market and maximum possible total profits if the firm engages in perfect price descrimination?
One of the most important skills to learn in managerial economics is the ability to identify a good business. Discuss at least four characteristics of a good business.
A government budget deficit is financed by a combination of
Domestic producers often base their claim for import protection in the fact that workers in country X are paid substandard wages. Is this a valid argument for protection? Can you give examples of
Suppose we refused to sell goods to any country that reduced or halted its exports to us. Who would benefit and who would lose from such retaliation? Can you suggest alternative ways to ensure imp
What are the differences and similarities between the investment multiplier and a consumption multiplier? How is the mpc different than the multiplier? Explain what is the use of each one in the ec
Advocates of using budget surpluses to bolster the social security trust fund say that:
If the MPP of labor is 60 and the price of labor per period is $20,the MPP of machinery is 75 and the price of the machinery per period is $25, in order to achieve optimal input poportions the firm
A soft drink producer must decide how to divide its spending between two forms of media: TV advertising and magazine advertising. Each 30 second commercial on prime time network TV costs $120,000 an
Determine (solve for) the equilibrium level of income or GDP (Y). Determine the impact on income of a 50 increase in government spending from 250 to 300. Using the original data, compute the impact of
Consider the following multiplicative demand function where QD = quantity demanded, P = selling price, and Y = disposable income:
Wealth is redistributed from creditors to debtors when inflation was expected to be:
Now suppose the economist allow for crowding out. Would their new estimate of MPC be larger or smaller than their initial one?
Macroeconomics focuses on the behavior of entire economies, using aggregate measures such as the overall price level, unemployment rate, and economy-wide output.
Suppose a Production Possibilities frontier includes the following combinations:What is the cost of producing an additional car when 50 cars are being produced? What is the cost of producing an additi
The mean is 34.51 for men with a standard deviation of 3.48 and a mean of 29.44 with a standard deviation of 2.86. Conduct a two tailed hypothesis test at a significance level of .05 to see if the t
You are given the following data on call and put premia in cents per share for company ABC's shares, currently priced at 425 cents each. Each contract refers to 1000 shares.
The income elasticity of demand for VCRs is 1.7. The cross-price elasticity of demand for VCRs with respect to DVDs is 0.8. Use this information to predict the annual number of VCRs sold under the
if a graph contains two seperte demand curves, D1 and D2, the marginal revenue curve associated with each one MR1 and MR2, a total marginal revenue curve, MRt, along with marginal cost. What is the
In a waiting line model situation, arrivals occur around the clock at a rate of six per day, and the service occurs at one very three hours. Assume the Poisson and exponential distributions.