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Suppose the CPI in 1990 using 1980 as the base year was 114, while the CPI in 1980 using 1975 as the base year was 105. If average salary of engineers in 1990 was 74,500 and they were equally as well off in terms of purchasing power as engineers were in 1980, then the average salary of engineers in 1980 must have been approximately.
A group of private investors purchased a condominium complex for $5 million. They made an initial down payment of 12% and obtained financing for the balance. If the loan is to be amortized over 11 years at an interest rate of 6.6%/year compounded qua..
Ron Paul (and his son, for that matter) has advocated for congressional control of the Fed and monetary policy for years. One of the pillars of his argument holds that elected officials should be in charge of monetary policy, not appointed individ..
Sales of speakers increase. Does this represent an increase in demand or an increase in quantity demanded? Does the demand curve shift?
What is amount of China's foreign reserves by end of 2004. What problem is China facing as it continues to build huge foreign reserves.
A firm's production function is qi = 2Li + 10Ki. Assume both variables can be adjusted, even in the short run (for instance, making an item by hand versus using a machine to do so). a. What is the firm's cost function, if w=$15, and r = $100?
Let us suppose that the consumer is choosing between beer and milk. The consumer will always prefer beer to milk. However, if the consumer has two choose between two consumption bundles having equal amounts of beer and different amounts of milk, then..
Suppose Jilbo can make 18 flower pots or 2 coffee mugs per day. Her cousin Jimbo can make 10 flower pots or 6 coffee mugs per day. What is the opportunity cost for Jimbo of producing 1 flower pot? or 10 flower pots? Who has the comparative advantage ..
Suppose the market for pizzas is unregulated. That is, pizza prices are free to adjust based on the forces of supply and demand. If a surplus exists in the pizza market, then the current price must be _________ (higher or lower?) than the equilibrium..
Consider a market with one large firm and many small firms. The supply curve of the small firms taken together is S(p) = 100 + p. The market demand curve for the product is D(p) = 200 - p. The cost function for the one large rm is c(y) = 25y. (a) Sup..
Analyze the economic impact of major social problems and issues such as poverty, discrimination, crime, income distribution, the role of government, and other major issues.
You are an Economist advising the Federal Government about the Australian Labour Market and issues relating to unemployment - what types of unemployment are the most serious?
How many skateboards should be manufactured? Why?
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