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Are there any other advantages of using a substitution vs. elimination method. Can you think of any real life examples where you HAVE to use one method and where you CANNOT use a particular method?
Use the utility function to answer the questions, below: (x1, x2) = exp (√(x 1 ) + √(x 2 )-Derive the Marshallian (ordinary) demand function for good1 and 2, x i *(p,l), i =1,2 . Then derive the indirect utility function (p,l).
define the union wage gain and the union wage gap. why should we care about the magnitude of the union wage gain? why
Calculating the MPC . In one year a consumer income increases by $200 and her consumption increasesby $160. What is the marginal prosperity to consume ?
suppose that supply and demand functions for a produc are given byqd 500 - 2pqs -100 31. find the equilibrium price
In an article appearing on July 4th 2004, the aegency cites Mexico's concern about the production of oil by the OPEC carte. Assume the current daily demand for OPEC oil is given by the following equation P=50-0.001Q where P is the price per barrel
Suppose that interest parity does not hold exactly, but that the true relationship is R = R* + (Ee - E)/E + r, where r is a term measuring the differential riskiness of domestic versus foreign deposits. Suppose a permanent rise in domestic governm..
Elucidate measures the fed should take to reduce the unemployment rate and expand the economy.
Calculate the percentage change in GDP from 1970 to 1990, and from 1990 to 2010. Use annual GDP from bea.gov. Calculate the percentage change in real GDP from 1970 to 1990, etc. Use annual GDP in chained dollars from bea.gov.
Could a future advance in technology allow product ion beyond the current production possibilities curve? Could international trade allow a country to consume beyond its current production possibilities curve?
Suppose an economy with constant state unemployment. the separation rate is 2.5 percent per month and the finding rate is 47.5 percent per month.
What evidence have you discovered that points to the Classical, Keynesian, and Monetarist theories being debated today?What is supply-side economics? Does it oppose the Classical, Keynesian, or Monetarist theory? How does supply-side economics affect..
ireland and spain have been experiencing deep economic crises. the crises were the results of the preceding booms with
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