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Is a high degree of market concentration a boon or threat to consumers? Explain. Use either the allocative efficiency or dynamic efficiency arguments.
What is the relationship between potential output and the natural rate of unemployment?
What has been your experience with pay for performance plans, where pay increases are linked in some way to performance reviews or other measures of individual performance? Do these types of plans
What are the advantages of Jennie's type of retirement plan, compared with her Uncle Jack's? What are the disadvantages?
Explain the relationship between scarcity, choice and opportunity cost in the context of managerial economics. 1b. Given the demand function Q=400-5p and supply function Q=5p, calculate the equilibr
If a production function exhibits constant returns to scale,
If government levies a tax or fee on hunting licenses and uses the resulting revenue for wildlife stocking programs, this would be an example of: A progressive tax, B regressive tax, C The benefits
Suppose Amy's wage (W) is $6 an hour, her non-labor income (V) is $15 a day, consumption C is measured in dollars, and she has 18 hours in the day to work (h) or leisure (L). The equation of her bud
A monopolistically competitive firm faces the following demand and cost structure in the short run:
Why do some developing countries adopt currency boards? why do others dollarize their monetary system. What factors underlie a nation's decision to adopt floating exchange rates or fixed exchange rate
What are the percentage increases in the price of food and in the price of clothing? What is the percentage increase in the CPI?
The supply curve of a perfectly competitive firm in the short run is
What is the effect on equilibrium price and quantity in the market for oranges if a new orange picking machine is developed?
Consider the choice between leisure and consumption that an individual faces.
What is the initial effect of the tax reduction on aggregate demand? What additional effects follow from this initial effect? What is the total effect of the tax cut on aggregate demand?
Suppose the cookie producers create a positive externality equal to $2 per dozen. What is the relationship between the equilibrium quantity and the socially optimal quantity of cookies to be produce
What should Paul (the director of Human Resources) do to determine how Plastec (a plastic manufacturing company) compares with other area employers in terms of wages and benefits?
Graph these market conditions and identify the equilibrium price and sales. Now suppose that foreigners enter the market, offering to sell an unlimited supply of CDs for $7 apiece. Illustrate and ide
Suppose that the substitution effect of an increase in the wage rate exactly offsets the income effect as the hourly wage increases from $12 to $13. What would the supply of labor curve look like ov
An economy begins in steady state with an investment rate of 20 percent, a corporate tax rate of 25 percent, a real interest rate of 2 percent, a depreciation rate of 7 percent, and a price of capi
As a result of increased tensions in the Middle East, oil production is down by 1.21 million barrels per day-a 5 percent reduction in the world's supply of crude oil. Explain the likely impact of th
One year ago, you bought a bond for $10,000. You received interest of $400 at the end of the year, as well as your $10,000 principal. If the inflation rate over the last year was five percent, calcu
If monies added to, or subtracted from, the Social Security trust fund were excluded from Federal budget calculations, the current Federal budget:
Derive an expression for the magnitude of deadweight loss that is a function of the tax rate, the elasticity of demand, quantity and price for an supply curve with an infinite elasticity