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Given the following price information for a typical market basket of goods purchased by consumers and assume that 2000 is the base year: :YEAR PRICE of market basket2000 $52001 $42002 $82003 $9
1.Calculate the price index for 2000.2.Calculate the price index for 2001.3.Calculate the price index for 2002.4.Calculate the price index for 2003.
Gail Dribble is analyzing the shares of Petscan Radiology. Petscan's stock pays a dividend once each year and it just distributed this year's $0.85 dividend. The market price of the stock is $12.14. Gail estimates that Petscan will increase it div..
Suppose there are 100 firms in the economy. Let us call them firm 1, firm 2, ..., and firm 100. For firm j (j=1,2,...,100) the labor demand (or equivalently MPN) is Nj = 1 - 0.02w where w is the real wage. Note that labor demand function for the w..
Amos McCoy is currently raising corn on his 100 acre farm and earning an accounting profit of $100 per acre. However, if he raised soybeans, he could earn $200 per acre. Is he currently earning an economic profit Why or why not
If the actualy price in this market were above the equilibrium price, what would drive the market toward the equilibrium. If the actual price in this market were below the equilibrium price, what would drive the market toward the equilibrium
If Beth's greedy father imposes a charge of $2 per acre for use of the family mower, how will this affect Beth's marginal cost function How will it affect her profit-maximizing decision What will her profits be now How much will Beth's greedy fath..
Missy Walters owns a mail-order business specializing in clothing, linens, and furniture for children. She is considering offering her customers a discount on shipping charges for furniture based on the dollar-amount of the furniture order.
A machine operation produces bearings whose diameters are normally distributed, with a mean of .498and a standard deviation of .002. If specifications require that the bearing diameter be .500 inch +- .004 inch, what fraction of the production wil..
Now, suppose that initially z=2 and the economy is in the steady state you calculated in part a. . Then suppose that z falls to 1.8 permanently. What is the new steady state? Determine capital per worker znd output per worker in each of the first ..
Between 2009 and 2010, the poverty rate increased for non-Hispanic Whites (from 9.4 percent to 9.9 percent), for Blacks (from 25.8 percent to 27.4 percent), and for Hispanics (from 25.3 percent to 26.6 percent). For Asians, the 2010 poverty rate (..
Find the breakeven point for the PRODUCTION RUN Find the breakeven point for the WEEK What is the total profit or loss for the company if it runs at 50% capacity for the 10 weeks, with a total capacity of 1000 widgets/week
Consider two possible designs for a product which are sold for $0.70 each. There are only two differences in the production of both designs: operation 1 and operation 2. The first product, A, requires 16 hours of operation 1 and 4.5 hours of opera..
This question considers a closed economy Keynesian model that is augmented to include transfers payments to consumers (Tr = Transfers) that increase consumers' disposable incomes and lower government savings. a) Suppose you had the following c..
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