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Suppose the economy is self regulating, the price level is 132, the quantity demanded of Real GDP is $4 trillion, the quantity supplied of Real GDP in the short run is $3.9 trillion, and the quantit
Suppose that average income in the world and the cost of catching fish are both equal to their initial values, US$5,000 per year for income and US$2,500 per ton for cost. Drag the vertical green li
Suppose a firm has the following total cost function TC = 100 + 2q2. Thus MC = 4q. If price equals $20, what is the firm's output decision? What are its short-run profits?
Because foreign goods are now relatively cheaper and domestic goods are relatively more expensive, imports increase by $60 billion and exports decrease by $30 billion. Use the green line (triangle s
Suppose there are 6,000 corn farmers in the U. S. Each farmer has the usual U-shaped average cost curve. The market demand curve for corn slopes downward and the market for corn is perfectly competi
What is the value of the tax revenue collected from the buyers? Why wasn't the government able to collect $12 per tire on 60 tires sold( the original equilibrium quantity)?
Which of the following describes the identity embodied in a balance sheet?
According to the WTO, China plans to eliminate its import quota on rubber over the next five years. What impact is the import quota reduction likely to have on the price of rubber and the quantity o
Compare and contrast two strategies and explain the disadvantage of the simultaneous lending strategy. Be mindful of the group lending scheme which Grameen Bank adopts.
How does the removal of the tax deduction on mortgage interest affect the housing market? How do other changes in government spending and taxes affect your decision?
What are the differences between productive and allocative efficiency? What conditions must be present for productive and allocative efficiency to be achieved in the 'real' world? How does industry
Explain how a firm's production function is related to its marginal product of labor, how a firm's marginal product of labor is related to the value of its marginal product and how a firm's value of
Plot the average cost, average variable cost and marginal cost on a graph. Suppose the average wholesale price of a wireless phone is currently $50. Should the company enter the market? What would be
What do you think are the changing aspects of the economics of the following industries:
how does it affect consumer surplus, producer suprlus, government revenue, and total surplus? is it a good policy form the standpoint of ecomonic efficency?
The NAV of the Growth American Fund is $11.00 per share but you have to pay front load of 5%. After a year you sell those shares at $10.75. The fund declared a dividend of $.40 and paid $1.65 in ca
Suppose that a monopolistic company faces the consumer demand curve given by P= 10 - q/500. The marginal cost, MC, of producing this product is $2. There are fixed cost, F, = $100. So, the cost cur
Given full-employment output = $2,800, equilibrium output = $2,500, and MPS = 0.25, which of the following changes would most likely bring the economy to a full-employment level of national output?
Allied Box offers mail-order storage containers for fine china producers. The company is the low-cost provider of these boxes with fixed cost of $480,000 per year, plus variable cost of $30.00 for e
Suppose that marginal utility of good A is 4 times the marginal utility of good b, but the price of good a is only 2 times the price of good b. Is this point consumer equalibrium? If not, what will
Explain how the principles of economics affect decison-making, interaction,and the workings of the economy as awhole." I just need a brief summary of about 150 words to answer this question.
Assume that raising the marginal income tax rate raises $200B which could be spent on infrastructure projects. How would we measure the cost of the project to determine whether it is worth undertak
The dollar-euro exchange rates are freely determined in foreign exchange market. Suppose that the Federal Reserve is expected to lower nominal interest rate next month.
Differentiate between rational and adptaive expectations and expalin how two can be used in focusing future economic variables