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Explain how these two deficits are related economically so that changes in one are reflected in changes in the other. Include the algebra in your answer.
What policy would you recommend that the government should adopt with the aim of maximizing total economic welfare in Tasmania. Make your answer brief.
The U.S. exports corn to other nations. In the U.S. balance of payments account, this transaction would be entered as: a payment from foreigners in the financial account.
The market demand of a cellphone gadget is P = 70 - 2Q. Find the Nash equilibrium if the two firms engage in Cournot com- petition. Find the profit for each of the two firms.
Construct a payoff matrix using the following hypothetical information: If neither distiller advertises, each earns a profit of $35 million per year. If both advertise, each earns a profit of $20 mi
On January 2, 1971, all cigarette advertising was banned on U.S. television and radio stations. Did this ban likely increase or decrease the profits of cigarette companies in 1971? Briefly explain.
The total number of unemployed was 13 million. from this information, calculate the following; labor force participation rate and unemployment rate.
What happens to her incentives to work? Is it possible that imposing the tax actually will reduce the tax revenues the government receives from the rich?
Demand for the retaining wall is described in the table above. If the cost to supply the public good is $30 per foot, what is the efficient height of the retaining wall assuming that it is a public
According to your estimate, what happens to the Transit Authority's revenue when the fare rises? Why might your estimate of the elasticity be unreliable?
All six consumers are able to download the file for free from a file-sharing service, Pantster. Which consumers will download the file? What will be the total consumer surplus to those consumers?
He believes he has more experience mowing lawns than the many other teenagers who also offer the same service. If the market for lawn mowing services is perfectly competitive, what would happen if J
Make sure you clearly label all the curves in your graphs and the initial and final equilibria. Is there any crowding-out due to the contractionary fiscal policy?
For each of the following scenarios briefly explain what are the effects on the aggregate demand curve: The Fed lowers the discount rate.
Calculate the equilibrium level of output. Graph your solution. Calculate the equilibrium level of output in case where taxes depend on income according to the following: T=-50+0.25Y.
You have just closed a sale and the customer has signed the agreement and handed you a check. What do you believe to be the four most important things you could do at this point?
If managers at these two firms set their own output levels to maximize profit, assuming that managers at the other firm hold constant their output, what is the equilibrium price?
The nonrivalry-in-consumption characteristic, and exclusion of nonpayers is impossible. Are there any other goods that so perfectly meet both public goods criteria?
Determine CDW's inverse demand and marginal revenue functions. Over what range will changes in marginal cost have no effect on CDW's profit-maximizing level of output?
write down the amount of surplus to allocate to the union. The payoff structure to this one-shot bargaining game is listed in the above payoff matrix. Find the Nash equilibrium(ia) to this game.
At a discount rate of 4% what are the net benefits of this program? What are the net benefits at a discount rate of 2%? Comment on the difference.
Susan's time preference for money is associated with a per-period interest rate of 20%. Approximately what is Susan's PV of obtaining this degree?
One of the most challenging tasks for the airline manager is matching demand and supply (capacity). What characteristics of air travel demand make this so difficult?
Explain whether each firm buys or sells permits, and show by how much each firm's costs go up or down. What is the total effect of allowing trading across all firms on the cost of pollution abatemen
Compute the after-tax real percent interest rate (to two decimal places) for this investment. Assume the textbook's statement on the highest net capital gains tax rate.