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Interfere with efforts to restrain overall health care cost growth by restraining Medicare payment rates. Explain how the firms (hospitals) behave differently when the level of competition changes.
What is the average labor productivity, in terms of square feet per painter-hour, for the three painters taken as a team?
Why do you think macroeconomists focus on just a few key statistics when trying to understand the health and trajectory of an economy? Would it be better to try to make use of all possible data?
A partial season ticket that is good for four home games, and tickets to individual games. What price should they charge? What is their revenue?
Calculate savings, aggregate expenditures, break even income, equilibrium level of income, MPC, MPS, and the multiplier from the following data if the private autonomous investment expenditures.
Draw indifference curves such that Sarah's labor supply curve is upward sloping when the wage is between $6 and $8 per hour, and backward sloping when the wage is between $8 and $10 per hour.
How much money will he have to offer each volunteer to get the required number of volunteers? What is the total economic surplus under this policy?
Suppose a function is given as U(M) = M^1/2 , and M = $900 is the initial wealth. Suppose one faces a loss of $59 with probability 0.5. Determine the expected monetary value and expected utility of
Assume the budget share for food is N and the income elasticity for food is between 0 and 1. Derive the upper and lower bounds if N equals 0.75 and the income elasticity for food is between zero and o
Construct a table showing the marginal cost of paper cup production. What is the minimum price necessary for the company to supply one thousand cups?
For each of the following statements, draw a diagram that illustrates the likely effect on the market for eggs. Indicate in each case the impact on equilibrium price and equilibrium quantity.
Calculate the compound growth rate for the period of 1998 to 2007. What is the major reason for the differences in your answers to parts b and d? If you were to make your own projections, what would
Suppose buyers must pay a tax of T = 6/unit. Determine the quantity exchanged, and prices for buyers and sellers. How is the tax burden split between buyer and seller?
What is the average inflation rate? How would inflation be different if real income growth were higher, say 6%? Explain.
Has the business cycle been cured since the Great Depression? Was the Depression the first time business conditions have been bad?
At a price of $5, what is price elasticity? Based upon the price elasticity you got at P = $5.00, is it better to reduce price or raise price and why?
In this community 100 people do not have a job and are not looking. In addition 200 people in the community are under age 16. The unemployment rate is?
Assume that the following data describes the condition of the commercial banking system. Are the banks fully utilizing their lending capacity? Explain.
Explain the effects of fiscal policies on the economy's production and employment. How do changes in government spending and taxes positively or negatively affect the economy's production and employ
Draw a diagram for this model. Assume that (n1 + δ)k* > γf(k*) and that (n2 + δ)k* < γf(k*). Explain what the diagram says about the steady state of the model.
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?
This is hard to explain because the law of demand says that higher prices should lead to lower demand. Do you agree or disagree? How is this going to affect prices in the market for New York City?
Explain the essential distinctions between the stage-of-growth theory and the international dependence school. Which modle do you think provides the best explanation of the situation in most develop
Draw the production possibility frontier for each of these countries. Calculate their autarky relative prices of Oil for each country.