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Question: 1. Identify the components of GDP by decoding the formula GDP = C + I + G + (X - M).
2. Describe the historical growth of population in the United States.
The return to a college degree raise a lot while college enrollment remained steady.
a. What is John's expected utility? b. What is the actuarially fair insurance premium for full insurance coverage? c. What would John's expected utility be were he to purchase actuarially fair insurance? d. What is John's risk premium?
Explain what economists mean by 'full employment'. The government passes a law making trade unions illegal
Taiwan Electronics produces 3 models of the CB radios, A, B, and C-Employ the transportation model to find out the best production schedule.
What are the advantages of Fed increasing interest rates if the GDP gap is positive?
a consumer purchases two goods x and y which are perfect complements. in other words the goods are only beneficial when
Plot aggregate demand and long run aggregate supply curves. Show aggregate demand schedule.
The public's preference is to hold their money as half cash, half demand deposit. Reserve requirement is 25%. Determine monetary multiplier.
Do you think anyone would have used original (undebased) privately minted stags to make legal tender payments? Why, or why not?
Find the equilibrium price and quantity. Find the elasticity of demand and the elasticity of supply, evaluated at the equilibrium price and quantity. Is demand elastic, inelastic, or unit elastic? Is supply elastic, inelastic, or unit elastic?
Describe the difference between the purchase of capital and the rental price of capital. If you know the value of marginal product from the flow of capital services, how would you determine the market price for the capital stock
Is it ethical for a government to act in ways that “socialize” financial risks or losses? Is it ethical to do so while privatizing gains/profits? Or to do so in ways that favor wealthier citizens while imposing risks on less wealthy taxpayers (or vic..
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