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The Department of Housing and Urban Development (HUD) has used housing subsidies as one of its principal tools for guaranteeing adequate housing for low-income families. An economist at HUD estimates that a 20 percent drop in the price of housing will stimulate an increase in demand for low-cost housing approximately by 12 percent in 2003. With this information, calculate the price elasticity for low-cost housing, and interpret this number for a non-economist.
Suppose the President has set a target of increasing low-cost housing consumption by 35 percent (compared to 10 million). Based on the price elasticity you calculated above, what percent drop in price is required to meet this goal?
If there is an increase in the government budget deficit _______. the demand for loanable funds will increase, interest rates will increase, and the amount of borrowing will increase, the demand for loanable funds will decrease, interest rates will d..
What is the relationship between interest groups and government? How does this apply to government-created interest groups? In addition, what are the effects of bureaucrats as interest groups? Do you believe this crossover between bureaucrats and ..
consider the following demand schedule for movie ticketsprice nbsp nbsp nbsp nbsp nbspnbsp quantity demanded
Imagine that you are standing on the bank of a river and injured people start floating down the river towards you. There is no end to the floating people...they just keep coming and coming. You are alone and you do not have cell service to phone f..
Describe how finance developed in Europe. What were some of the religious impediments to its development and how were they circumvented?
suppose you are known in your neighborhood as da bomb financial mack daddy. a couple with an 8 year-old daughter have
Why do gas price fluctuate? What causes increases and decreases in the price of gasoline? Use Supply and Demand curves to illustrate arguments.
Create an initial post in which you take a position on the future of Web application development via open-source tools and languages. To do so, compare open-source tools and languages and analyse how they are used and how that usage is limited.
A firm's short-run total cost is TC = 10,100 + 7,700Q - 100Q2 + Q3/3, and its marginal cost is MC = 7,700 - 200Q + Q2. What is the firm's shutdown price?
1.the three functions of money area.unit of account double coincidence of wants and barterb.unit of account double
Suppose you place 6 green, 8 blue, and 2 yellow marbles in a non-transparent bag. You then randomize the marbles by shaking them up thoroughly. Assume you then randomly select two marbles from the bag without replacement.
Illustrate what would each political philosophy of utilitarianism, liberalism, and libertarianism likely suggest should be done in this situation.
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