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Suppose that the demand for loanable funds for car loans in the Milwaukee area is $11 million per month at an interest rate of 10 percent per year, $12 million at an interest rate of 9 percent per year, $13 million at an interest rate of 8 percent per year, and so on. Instructions: Enter your answers as whole numbers. a. If the supply of loanable funds is fixed at $17 million, what will be the equilibrium interest rate? percent per year. b. If the government imposes a usury law and says that car loans cannot exceed 3 percent per year, how big will the monthly shortage (or excess demand) for car loans be? $ million worth of car loans per month. c. What if the usury limit is raised to 7 percent per year? $ million worth of car loans per month.
A consumer consumes 2 goods (X and Y) and has convex indifference curves for the two goods. In period 1 the price of each good is 2 and the consumer’s income is 8. In period 2 income and the price of Y are constant, but the price of X declines to 1. ..
Suppose that a monopolistically competitive restaurant is currently serving 240 meals per day (the output where MR = MC). At that output level, ATC per meal is $13 and consumers are willing to pay $17 per meal. What is the size of this firm’s profit ..
Write down an expression describing total income from tickets plus popcorn plus other concessions. Forecast total incomes for regular also special Tuesday-night pricing.
Explain what the political motives are behind more third world countries joining the international market. What is/are the motivational factors?
Tennessee provides insurance coverage for up to $25,000 in annual health expenses. Of the $25,000, the most that can be spent on hospital bills is $15,000. Expenses above these thresholds are not covered by the state plan. Is Tennessee consistent wit..
Export and import practices are at the heart of a country’s trade balance with the rest of the world? Why do some countries subsidize their exports when WTO regulations do not allow that? Are global companies such as Intel, Cisco, Microsoft, oracle, ..
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 110 - 0.25P, and the marginal cost of production is $160. Determine the optimal number of units to put i..
year on television advertising campaigns, promoting their beer brands. Obviously, if one firm is advertising its brands heavily, the others must also advertise to defend their market shares.
q.a consumer who conforms to the von neumann morgenstern axioms is faced with four situations a b c d. he prefers a to
Consider the two-period optimization problem when income in the second period is zero and the individual is a borrower. Suppose that interest rate declines. In a graph, identify the Hicks income and substitution effects of the interest rate change on..
If income rises from 1000 to 1800 and consumption rises from 1100 to 1700 the marginal propensity to save.
Suppose in Belgium the opportunity cost of producing a trombone is 8 clarinets. In Denmark the opportunity cost of producing a trombone is 6 clarinets. Which country has a comparative advantage in the production of trombones?
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