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Donna loves the Seahawks! She has a budget of $45 per month, which she can spend on Seahawks gadgetry at $5 a piece or on tickets to an autograph signing of Marshawn Lynch, Bobby Wagner or Russell Wilson at $15 a piece. First draw her budget constraint. How is the slope determined? Show how her budget constraint changes if the price of the gadgetry increases to $7.50. Show how her budget constraint changes if the gadgetry stays at $5, but her monthly income increases to $60. (Hint) Set up a table first with the all or nothing choices then the intermediate ones. If it easier, please print this up, draw the graphs/tables with a pencil and scan it back to me for credit.
What is the definition of absolute price?
The US labor force, population, and unemployment rate in January 2013 were as follows: Labor Force 155,825,000 Population 315,079,109 Unemployment rate 8.0% Based on these figures: How many people were unemployed? How many more jobs would be required..
If a 10% decrease in the price of gas causes a 30% increase in the demand for standard sized autos, then the cross-price elasticity of demand is: If the price elasticity of demand of for gasoline is 1.8, then a 15% decrease in quantity demanded is ca..
Which of the following fed actions will increase bank lending?
In early 2014, China decided to cancel the 1.3 million tons of rice import contract with Thaolanf. Using demand and supply analysis, What will the effect of the cancellation of the import contract on the equilibrium price and quantity of rice in Thai..
"The Neoclassical/Neoliberal Dogma," and chapter 6, "A Radical Economic Perspective," from Naming the System: Inequality and Work in the Global Economy by Michael D. Yates. Comparing the key arguments made by neoclassical and radical economists. T..
A patient goes under the knife and will either die right after surgery, survive for 1 year, or survive for 2 more years. Assume that the probability of surviving for a year is 60% and surviving for 2 years in 30%,
Outline the potential change in risk and size that the current health care reform will have in the U.S.
Using Keynes' General Theory Present the basic assumptions and structure of the Keynesian income determination model.
In current decades, women have worked more hours in paid jobs also fewer hours in up paid housework.
George (of Problem 3.11) does not really know when the inheritance will come. Assume 10 years and a 10% interest rate. Consider the present worth again.
Elucidate how the presence of imperfect information also asymmetric information provides theoretical reasons for financial intermediaries to exist.
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