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A consumer lives three periods, called the learning period, the working period, and the retirement period. Her income is 200 during the learning period, 800 during the working period, and 200 again during the retirement period. The consumer's initial assets are 300. The real interest rate is zero. The consumer desires perfectly smooth consumption over her lifetime
a. What are consumption and saving in each period, assuming no borrowing constraints? What happens if the consumer faces a borrowing constraint that prevents her from borrowing?b. Assume that the consumer's initial wealth is zero instead of 300. Repeat part (a). Does being borrowing-constrained mean that consumption is lower in all three periods of the consumer's life than it would be if no borrowing constraints applied?
ADVANCED ANALYSIS Currently, at a price of $1 each, 100 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $1 to $2 is unit-elastic (Es = 1.0).
An advisory group decided to investigate this claim, believing it was too large. A sample of 200 traffic accidents this year showed 74 persons were also involved in another accident within the last five years.
Use the capital-asset pricing model to predict the returns next year of the following stocks, if you expect the return to holding stocks to be 12 percent on average, and the interest rate on three-month T-bills will be two percent.
Economan has been infected by the free enterprise bug. He sets up a firm on extraterrestrial affairs. The rent of the building is $4,000, the cost of the two secretaries is $40,000, and the cost of electricity and gas comes to $5,000.
A pure monopolist determines that at the current level of output the marginal cost of production is $2, average variable costs are $2.75, and average total costs are $2.95. The marginal revenue is $2.75. What would you recommend that the monopolis..
The Eimac tubes in a linear amplifier for radio transmission are estimated to provide 18,000 hours of operation before requiring replacement. A pair of tubes cost $20,000 and has no salvage value. Their use, expressed in hours over a 4-year period
A market study found that the served by Online Tutors can be divided into two types of students: students needing help with math, who are primarily interested in math tutoring but may be interested in some science tutoring.
How do you find AP, MP, TVC, TFC, TC, AVC, AFC, and ATC if the problem gives you a list of # of people doing the labor, quantity produced, fixed costs, and wage rate for example, wage rate is $100 a day, firm has $200 in fixed costs.
due to a recession that lowered incomes the 2008 market prices for last-minure rentals of u.s. beach -front properties
Determine the current amount of money that must be invested at 12% nominal interest, compounded monthly, to provide an annuity of $10,000 (per year) for 6 years, starting 12 years from now. The interest rate remains constant over this entire perio..
Inflation affects creditors and debtors. Suppose the Canadian debtors borrowed $100 from the Canadian creditors on December 31, 1992 and promised to pay back $105 on December 31, 1993. This is equivalent to paying back a nominal interest rate of 5..
the comparative banking assignment on market power.you works for a leading consulting company who are advising the
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