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"During periods of inflation, people use real resources to reduce their holdings of fiat money. Such activities produce a private benefit with no corresponding social gain, which illustrates the social cost of inflation." Explain this quotation and give an example. 3. Unanticipated deflation also produces serious social costs. For each of the following, describe the deflation and analyze the associated costs:
a. During the Great Depression, prices of major crops fell along with the prices of other commodities. What would happen to farmers who had large mortgages?
b. Japan experienced a mild deflation in the 1990s. Assume that Japanese students each borrowed 2,000,000 yen (about $20,000) to pay for their education, hoping that inflation would allow them to pay off their loans in inflated yen. What would happen to these students if wages and prices began to fall at 5 percent per year?
Suppose the government instead chose to maintain a price of $140 by implementing a system of quotas. What quantity of quotas should the government make available to the suppliers?
If the cost function for John's Shoe Repair is C(q) = 100+10q-q^2+(1/3)q^3, what is the firm's marginal cost function What is its profit maximizing condition if the market price is p What is its supply curve
industry demand curve equals Q=900-100P and the long run average cost is a constant $1.50 per unit of output. Calculate market output, price, consumer surplus, and producer surplus in a competitive market.
The object of this exercise is to play as much as possible with comparisons. I don't care how far you have to stretch the comparison; as long as there is any kind of connection, it's great. Just let yourself play.
Suppose that a mutual fund has an annual rate of return that is normally distributed with a mean of 10% and a standard deviation of 4%. What is the probability that the annual return in a given year will be negative
Suppose Thimajigs have a variable cost of $10 per unit and currently sell for $25. Price elasticity of demand for Thimajigs Et = -3.0 (A) Is the firm charging the optimal price for Thimajigs Demonstrate how you know.(B) Should the price be changed I..
A price-taking firm's variable cost function is C = Q3, where Q is the output per week. It has an avoidable fixed cost of $2,000 per week. Its marginal cost is MC = 3Q2. What is the profit maximizing output if the price is P = $192
Suppose that a perfectly competitive firm faces a market price $10 per unit, and at this price the upward-sloping portion of the firm's marginal cost curve crosses its marginal revenue curve at an output (Q) level of 1,200 units. If the firm produ..
A needed service can be bought for $550 per unit. The same service can be provided by equipment that costs $225,000, has a salvage value of $75,000 at the end of 10 years and costs $21,500 annually plus $35 per unit to operate.
Suppose a firm is considering taking out a loan for $10,000. The length of the loan is 5 years and the loan interest rate is 15% annual compound interest. The firm's real MARR is 8% and the inflation rate is 4%. The firm is considering two options..
Assuming the oversimplified multiplier is correct, Supposing the GDP is currently $25,000 and themarginal propensity to consume is .50. If autonomous investment increases by $5,000, what will GDP be in the new equilibrium
The use of quarterly data to develop the forecasting model Yt= a +bYt?1 is an example of which forecasting technique?
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