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Since Uber has entered the transportation market, taxi services have declined significantly. Using economic terms, explain why might that be the case and given that the New York Taxi market is subject to a quota, explain how has Uber's entrance into the transportation impacted the value of medallions (recall that the wedge represents the value that accrues to license holders)? Some of Gene Freidman's taxi companies had to file bankruptcy due to a "liquidity problem." When Gene, and other medallion holders, bought the medallions they typically would take out loans to purchase the medallions.The loan represented the value of the medallion at the time. Explain what would happen when the price of medallions drops and less folks are using taxis, and explain why taxi companies are fighting Uber and Lyft.
Gross Domestic Product involves a calculation of the total value of the goods and services generated within an economy in a stated or identified time period. The main difference between real GDP and nominal GDP is that nominal GDP does not consider h..
Back in the 1950's a piece of gum was 5 cents and today it is $1. Inflation has occured so that does that mean that people can afford to have less gum? Do they have less purchasing power? Explain please.
Consider the following economy: C=3,I=1.5,G =2.65,T=2,f=0.5,d = 0.1,mpc =0.8. Write the mathematical expression of the consumption function. Write the mathematical expression of the investment function. Find the IS curve and graph it.
1. How do you think the healthcare debate in our country should be resolved? 2. Is your opinion normative or positive? Why?
Some employers no longer consider a prospective employee's grade point average as a useful signal. Why might this be the case? because it is not fair to the students who put in a lot of effort and still get bad grades
Select the best description of zero-day vulnerabilities. Support your choice by describing why your choice is the best description.
According to Chase (1993), TPA, a heart drug produced by Genentech Inc., costs ten times more at $2,200 a dose than streptokinase, an alternative heart drug sold by Astra AB and Kabi Farmacia AB of Sweden and by Hoechst AG of Germany. How many Medica..
An example of a positive externality is
Suppose, alternatively, that leisure and consumption goods are perfect substitutes. In this case, an indifference curve is described by the equation i = al + bC, where a and b are positive constants, and u is the level of utility. Show what the consu..
At university he attended, he spent $2,000 on books, $1,000 on cough medicine and earned $12,000 as an economics instructor. Illustrate what were Jon's economic costs while attending college.
Consider an small open economy. Suppose that money demand depends on disposable income, so that the equation for the money market becomes. Analyze the impact of a tax cut in a small open economy on the exchange rate and income under both: floating ra..
The Heckscher-Ohlin model is about how factor abundance/scarcity affects trade. Consider factors such as capital, skilled labor and unskilled labor. It is usually held that developed countries are relatively abundant in capital and skilled labor, and..
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