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1. Joe needs 1600 calories a day and 150 gms of protein to survive. He can get it from y or x. Y has 320 calories per serve and 50 gms of protein. X has 200 calories per serving and 15 gms of protein. Joe can consume them in any combination. Show his consumption set over y and X.
2. Teds income is 160 and he spends on two goods. Price of y is 10 and orice of x is 10 upto 8 units. If he buys more than 8 units, then additional units are priced at 20. Describe her budget constraint and Show it diagrammatically.
3. Trisha has 14 hours to spend on leisure (X) or work. If she works she makes 60 per hour. If she makes upto 480 her tax is 12.5% of her income, but if she makes more than 480 her tax rate is 25%. She spends her income after tax on all other goods (Y).
a. Describe her budget constraint and show is a diagram.
Reflect on the changes in U.S. manufacturing over the last half century. Why did the United States lose so many jobs? What impact did that job loss have on the U.S. economy and on the economies of countries like China and Mexico that have been the re..
Consider a firm with the production function, q = (K^(0.5) + L^(0.5))^2. In the short-run, the level of capital is fixed. Determine the equations for MPL and APL. Solve for the short-run cost function (i.e. total costs as a function of output) Solve ..
What do Card and Krueger find regarding the effects of increasing the minimum wage on employment? What is a possible problem with the study? Tell me an economic story that would explain their results.
Your firm manages money for a professional tennis player Maria Juarez. She has asked you to give her information about what determines the level of various interest rate. What is the pure expectations theory? What does the pure expectation theory imp..
Starting from long-run equilibrium, graphically illustrate and explain what happens to the equilibrium price level, equilibrium level of real GDP and the unemployment rate in response to an increase in technology. Is it reasonable to conclude that th..
Monsanto, although not a named party (direct legal participant) in the law suit, has given significant funds to support the GMA lawsuit and has given money in similar cases in California. How does this financial support impact its status as a stakeho..
A recessionary gap occurs when. Crowding out refers to the. In the aggregate supply and demand? model, short run equilibrium is
Are there any indications that the United States Declaration of Independence or Constitution or the 1689 English Bill of Rights influenced the National Assembly? If so, how?
Identify and briefly explain three specific topics or ideas that you found to be the most important and/or most interesting. Be specific, and explain. Do you plan to apply any of the topics/ideas in your current employment? Why? How?
Suppose real GDP is currently $12.5 trillion and potential real GDP is $13 trillion. If the president and the Congress increased government purchases by $500 billion, what would be the result on the economy?
All of the following are true about the paper that found a hot hand effect in baseball EXCEPT. All of the following are true about Game Theory EXCEPT
For a given quantity demanded, the vertical distance between the effective and nominal demand curves shows the amount paid by the individual out-of-pocket and the amount paid by the insurer as per the agreed coinsurance rate. What would happen to the..
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