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A worker has daily a non-labor income of M euros and has 12 hours for leisure and labor activities. Her preferences for leisure-consumption are represented by the utility function u(h; c) = h^2c, where h denotes the number of hours of leisure she enjoys and c her consumption measured in euros.
The hourly wage is w euros.
Describe the workers problem, including its budget constraints, and calculate her demand of leisure and consumption, h(M; w) and c(M; w).
Describe the processes of conceptual design, logical design, and physical design.
q1. suppose you have 7000 in savings when the price index is at 100. if inflation pushes the price level up 10 what
How do high interest rates increase the risk of adverse selection in the bond market?
The position of the long-run Phillips curve depends on what?
1) Why is it possible to change real economic factors in the short run simply by printing and distributing more money? 2) Explain why a stable 5% inflation rate can be preferable to one that averages 4% but varies between 1-7% regularly.
The Federal Reserve had to resort to non-standard methods to try to stimulate the economy the last several years in part because:
How can one apply a nonmarket strategy regarding the gun control, how to increase benefits or decrease the costs, a specific strategy or tactics.
Two countries, X and Y, satisfy the Solow model with α = 1/3 and productivity A=1. In Country X, investment is 54% of GDP and the population grows at 1% per year. In Country Y, investment is 8% of GDP, and the population grows at 3% per year. In both..
If the price of cereals drops to $1, calculate his compensating and equivalent variations. Comment on your results.
The most you would be willing to pay for having a freshly washed car before going out on a date is $15. The smallest amount for which you would be willing to wash someone else’s car is $12.50. You are going out this evening and your car is dirty. How..
What are the two distinguishing properties of a public good? Explain each in one or two sentences. Give an example of a public good.
Network forensics is considered a very hard problem for a number of reasons: First, the general anonymity of users on the Internet makes is extremely difficult to determine who a suspect is.
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