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Many consumers attempt to stock up on emergency supplies, such as bottled water, immediately before and after a hurricane or other natural disaster hits an area. Also, many supply shipments to retai
Calculate the profit maximizing level of price and output it Phillips is required to charge the same price per unit in each market. What are Phillips's profits under this condition?
Many Europeans have government restrictions that impede the mobility of labor across national borders. How do these restrictions affect the desirability of having a common currency in those countrie
The economy is affecting many businesses and recreation activities. Cruise ships have seen drastic reductions with bookings. As the director of marketing for the carnival cruise lines you have imple
Determine the impact on each of the following if 2 million formerly unemployed workers decide to return to school full time and stop looking for work:
How does inelasticity of demand for a product effect the elasticity of demand for the labor that produces it?
Write an equation for the budget line. Illustrate the consumers opportunity set in a diagram. Show how the consumer opportunity set changes when the price of good x increases to $10. How does this ch
Would it be possible to privatize the money supply in the United States completely? In doing so, what would be the primary obstacle to overcome in implementing such a policy?
Consider the market for minivans, for each of the events listed here, identify which of the determinants of demand and supply are affected. Which curve shifts, if any, and in which direction? Then
In each case, assume that you always have the option to keep extra money in the bank at a 10% rate of interest, with no fear of losing any of this money. For each case, calculate the minimum rate o
For each of the following situations, use the IS-LM-FX model we learned in class to graphically illustrate the effects of the shock. State the effect of the shock on the following variables: Y, i, E
Explain why this assumption is needed if one is to accept the view that aggregate spending is a driving force behind short-term economic fluctuations.
Economic opportunities arise from countries that develop industries in which they have a comparative advantage. Choose a country other than the one in which you reside. Discuss the following in a repo
Calculate his expected utility if he does not buy fire insurance. Calculate the certainty equivalent of the lottery he faces if he does not buy fire insurance.
Find the equilibrium level of GDP. Next find the multiplier for government purchases and fixed taxes. If full employment comes at y+1800, what are some policies that would move GDP to that level?
The demand that a monopoly faces is: p = 100 - Q2, where Q is the quantity, and p is the price. Its marginal cost of production is 10, and its cost of a unit of advertising is 1. What is the firm's
What is the policy of import substitution? Why might poor countries face obstacles when following this policy?
What causes the lags in the effect of monetary and fiscal policy on aggregate demand? What are the implications of these lags for the debate over active versus passive policy?
Which of the following most closely relates to the idea of opportunity costs?
Why are poor countries poor and rich countries rich? What are the main ingredients for economic growth? What policies (if any) can be used to stimulate growth?
Describe what would happen to the aggregate expenditure function in each of the following cases. Would it increase (shift up), decrease (shift down), or not shift at all?
The production of each compute chip, however, results in a pollution of cost of 10 cents. Draw a figure, showing the equilibrium price and quantity for this special chips., as well as the socially
What are some of the true concerns of the U.S. Budget Deficit? Some of the false concerns?