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If the average worker produces $70,000 of GDP, by how much will GDP increase if there are 140 million labor force participants and the unemployment rate drops from 5.2 to 4.5 percent?
The condition under which a real depreciation leads to an increase in net exports. B.2. When account is taken of its effect on expectations, the decrease in government spending need not lead to a de
The transition process was a defining moment for economists of the 20th century Reforms focussed on 3 or 4 areas: liberalization, privatization, stabilization and institutional reform
All things constant, a decrease in bus, train, and airplane fares will
Which of the following would be most likely to cause the demand for Miller beer to increase?
Which of the following would most likely cause the current demand for video cassette recorders VCRs to fall?
When there are n deer, it takes a deer n squared minutes to nd a fresh patch.
If the papers enter a joint operating agreement where they set prices to maximize total revenue, by how much will newspaper prices rise?
If Congress took steps to consolidate banks, thereby reducing the total number to 2500, what would you expect to happen to costs within the banking industry (assuming that the total output of the b
As the size of the sample increases, what happens to the shape of the sampling distribution of sample means? If all possible random samples of size n are taken from a population that is not normally
Draw a production-possibilities curve with consumer goods on one axis and investment goods on the other axis. Identify the opportunity cost of increased investment.
What will the pattern of trade be and what is the range of post-trade relative prices (of glass to food) that can prevail? How does this trade affect the real wage (in terms of each good) in each c
Explain how a permanent rise in government military expenditures affects investment in the medium run and output growth in the long run.
Explain why each of the following is or is not a valid probability distribution for a discrete random variable x: See p.183-84. 4.16 Toss three fair coins and let x equal the number of heads observe
The expected profit from the machine decreases. The rental cost/user cost of capital will decrease when: the real interest rate falls. This fully anticipated monetary expansion will cause which of t
What will be the impact of this change on the equilibrium real rate of interest and the level of saving and investment if the interest rate elasticity of household saving is zero?
Which of the following claims concerning the importance of effects that explain the slope of the U.S. Aggregate demand curve is correct?
Explain the effect of an open market purchase on interest rates. Make sure you discuss the liquidity effect, real income effect, price leel effect, and inflationary expectations effect.
Using a Production Possibility Curve' explain the concept of Scarcity and Opportunity Cost. Discuss the circular flow model in detail. Illustrate your answer by drawing schematic representations.
In some industries, the labor productivity of union workers exceeds the labor productivity of nonunion workers. Which of the following explanations might help clarify the higher productivity of unio
Also, and this is very strange, the highest bidder and the next highest bidder have to pay their bids. For example, if Bob bids $ 5, Alice bids $ 6, and Bob then passes, Alice gets the $ 20 and pays
Why does an individual's demand curve normally slope down? Why does a market demand curve normally slope down? Why does a firm's supply curve normally slope up? Why does a market supply curve normally
What is the relationship between the total product curve and the total variable cost curve?
Explain also by using graphs the welfare off policy measures on cosumer and producer surplus and net gain or loss to society.
Discuss an example of a regulatory measure which was supposed to serve public interest, but in reality serves private interest?