Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
Based on your understanding of the IS-LM model, graphically illustrate and explain what effect a reduction in consumer confidence will have on output, the interest rate, and investment.
Form of quotas, and that they were create quota rents and a larger reduction in national welfare than tariffs, why did nations use them instead of tariffs?
Can the explanations of the "boundaries of the firm," as developed in this unit - be used to explain the bounds of the family?
How does the study of economics depend on the phenomenon of scarcity? Explain why an economy's income must equal its spending.
Calculate GDP using each of the three approaches. Calculate the current account surplus and GNP. If the coal producer is instead owned by foreigners, what is GNP?
How much additional interest could you have earned if you had compounded the rate continuously rather than annually?
Assume you decide to go a concert next Tuesday night. What is the total opportunity cost of going to this concert?
Explain the difference in approaches and describe the impact these differences have on excess quantity of labor supplied.
Suppose that two jobs are exactly the same except that one is performed in an air-conditioned workplace. How could you measure the value workers attach to such a job amenity?
If your money wage doesn't increase, you may work more hours because of this cost-of-living increase. Is this response predominantly an income effect or a substitution effect? Briefly explain.
Assuming that unilateral transfers and net income flows are negligible for Z-Land, which one of the following can be concluded with precision (i.e. is absolutely true under all circumstances)?
Is this a constrained optimization problem or an unconstrained optimization problem? What is the maximum average grade Brian can earn if he studies 19 hours per week?
Now suppose that the demand curve for the good increases such that the equilibrium price rises from $20 to $30. How does total revenue for the sale of this product change?
Draw a neat diagram showing the D and MR curves, John's MC, the price-quantity equilibrium in the market under the two cases of perfect competition and monopoly, and the change in welfare.
Consider a world in which prices are sticky in the short-run and perfectly flexible in the long-run. Did the exchange rate "overshoot?" If so, identify the overshooting in your diagram.
Draw and use a PPC to graphically show and verbally explain to the subcommittee members the opportunity cost at a point in time of expanding any one of the programs.
Assuming all changes in quantity were due to the change in price, what is the price elasticity of demand for the Dulles Airport Greenway?
Draw the consumer's budget line in the absence of the Food Stamp Program. What is the market rate of substitution between food and "all other goods"?
find the solution for optimal units of labour and capital, L* and K*. Note: during solution, do not use values. For the same question, find the optimal units of Labour (L*) and Capital (K*) that will
the remaining are restricted to evening and weekend usage. If you go over your allotted time, you are charged 35 cents per minute for any additional minutes. what is your average variable cost curve
Described by the Solow model and they had the same values for α and δ but different values for n, what would their ratio of per capita income be?
Use the Solow model to calculate the ratio of their steady state levels of income per capita. How can you explain the result?
Draw two diagrams, side by side with the money market diagram for Denmark on the left and the expected return in krone / exchange rate diagram on the right hand side.
Draw two diagrams with the money market diagram for the US on the left and the expected return in $/ exchange rate ($/yen) diagram on the right.
How do nominal interest rates, prices, and the exchange rate evolve over time? Please use a separate time series diagram for each variable.