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Write the equation for the consumer's budget line. Illustrate the consumer's opportunity set in a carefully labeled diagram. Show how the consumer's opportunity set changes when the price of good X i
Define the purpose and function of money. Explain how the central bank manages a nation's monetary system. Outline the stated direction of recent monetary policy in the United States.
What was the level of equilibrium income (Y), What was the value of the government expenditure multiplier, What was the value of the tax multiplier,
Research the recent history of gasoline pricing in Texas, and attempt to relate any fluctuations you observe to documented supply and demand factors. Be sure to cite any references used.
At the .05 significance level, can we conclude that the price of gasoline is higher in the Milwaukee area? Calculate the p-value and interpret.
What is the difference between statistical significance and practical significance? Why is statistical significance not necessarily of practical important difference to a business decision? Provide
Suppose that the economy starts at equilibrium and the mpc = 0.8. what would be the effect of a $500 increase in taxes once all the rounds of the multiplier processare complete?
A law is a law 24-7, otherwise it is not a law. It should apply to ALL production processes we can think of, independently of the good or service we are talking about. Can you explain the law of di
Over the last year, the interest rate on a 60-month car loan has decreased from 7.53 to 6.22 percent. With reference to a carefully drawn graph, provide a detailed analysis of the impact of this de
What role did the policies of various governments play in influencing the international expansion strategies of both McDonald's and Wal-Mart?
Write short note on Open Market Operation,Stabilization Security,morals Suasion and Special Deposit and Re discount Rate.
What is projected credit markets? How do you use this to make business decisions. Also how would investment or returns on excess cash affect a auto business?
Design a hypothetical ideal randomized controlled experiment to study the revenue impact of changing the income tax code to a flat tax.
Suppose the economy currently produces at an output level represented by point B and then decides it wants to produce 1,000 more garments of clothing, so the economy moves from point B to point C.
A country engaged in international trade based on comparative advantage gains from trade because it:
A country has a comparative advantage in producing a good if:
Calculate the MRS of other goods for airline miles; i.e., the MRS that represents the slope of the indifference curves when x1 is on the horizontal and x2 is on the vertical axis.
The Largo Publishing House uses 400 printers and 2 printing presses to produce books. A printer's wage rate is $20, and the price of the printing press is $5,000. The last printer added 20 books to
You are the manager of a monopolistically competitive firm, and your demand and functions are given by Q = 20 - 2P and C(Q) = 104 - 14Q + Q2 . Find the inverse demand function for your firm's produc
You are the manager of a monopoly, and your demand and cost functions are given by P = 200 - 2Q and C(Q) = 2000 + 3Q2, respectively. What price-quantity combination maximizes your firm's profits? &
What is the long-run equilibrium price in this industry? What is the long-run equilibrium quantity in this industry? What is the long-run equilibrium number of firms in this industry?
What is correlation? Does correlation prove causation? Why or why not? Explain and provide examples to support your explanation.
Describe 2 government programs (Medicaid & Social Security) that address the issues of poverty and income redistribution in the US. Discuss the purpose and goals for each program and how it may
The weekly demand for computers produced by College Computers is given by Q = 1,000 - P, and its weekly cost of producing computers C(Q) = 2000 + Q2. If other firms in the industry sell PC's at $600
An economist has estimated that, at the current price of $1.25 per pill, the own price elasticity of demand for the drug is -2.5. Based on this information, what can you do to boost profits? Explain