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Q1. In the text we assumed that the condominium purchasers came from the inner-ring people-people who were already renting apartments. What would happen to the price of inner-ring apartments if all of the condominium purchasers were outer-ring people-the people who were not currently renting apartments in the inner ring?
Q2. Study Plan Problems and Applications1. Rain spoils the strawberry crop, the price raises from $4 to $6 a box, and the quantity demanded decreases from 1,000 to 600 boxes a week.a. Calculate the price elasticity of demand over this price range.
b. Describe the demand for strawberries.
How can two countries both be better off as a result of trade? How can tariffs protect U.S. jobs? Do tariffs lead to a net increase in jobs?
Describe the international monetary system known as the Bretton Woods system, or the gold exchange standard that existed from the mid 1940s to the early 1970s.
he perfectly competitive form maximizes profits by producing 10 units of output. At what price does it sell these units.
The government wants to increase real GDP demanded to $15 trillion at the given price level
Illustrate and explain the movement of the aggregate demand and aggregate supply curve both in the short and long run.
Each station's objective is to maximize its viewing audience, in order to maximize the station advertising revenue.
A farmer has a production function f(L) where the input is capital (L). The cost of this loan is L(1+i). The farmer also has an outside option (loan from family member) which generates a profit of A.
Suppose that increased international trade makes product markets more competitivein U.S., would we expect to observe an upward slope on the WS curve or the PS curve
If you are near graduation and plan to start your new job in 3 weeks, how does the Bureau of labor statistics classify you? Unemployed, employed or notin labor force.
Suppose that the participation variable, voucher, is completely randomized in the sense that it is independent of both observed and unobserved factors that can affect the test score.
Solve for equilibrium real output and also solve for the equilibrium interest rate.
Open a pizza restaurant and is considering either selling the bonds and using the 100,000 to start his restaurant or borrowing the 100,000 from a bank which would charge him an annual interest rate of 7 percent.
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