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What is quality-adjusted life year? How can it be used to compare differences in health status between someone who is healthy and someone who is not? Can it be used to compare health outcomes of someone who is ill with someone who has died?
Consider a market-clearing economy in which output (Y 1 )depends only on the capital stock (k 1 ) and an exogenous productivity variable ( θ1 ) according to the production function y1 = θ 2 f(k 2 ).
Miller, R.L. (2012). Economics Today, 16ed. Addison-Wesley. p. 295. In today's economy what fiscal policies would you implement? Right now our economy is in a recession, as a Keynesain Economist, how would youl manipulate fiscal policy to improve ..
Calvins's Barber Shops, Corporation, has a monopoly on barbershop services provided in the south side of Chicago because of restrictive licensing needs, and not because of superior operating efficiency.
Complete the following table by computing the marginal utility per dollar for successive units of X, Y, and Z to one or two decimal places.
Federal Reserve banks do all of the following except one. Which is the exception and today financial intermediaries do all of the following except one. Which is the exception?
1.Suppose the equilibrium price in a competitive price taker market is $10 and a firm in the industry charges $9 which of the following is true? a-the firm will not be able to sell any output b-the irm will sell less output than its competitors c-t..
We would like to determine if Candidate 1 will win the upcoming mayor race. A randomly sampled poll shows candidate 1 ahead of candidate 2. Candidate 1 is projected to win 45% of the votes and Candidate 2 is projected to win 43% of the votes.
Explain why is the "1 free" free to the buyer but not to society. At which point if any should the government regulate such promotions like these.
Industry studies often suggest that firms may have long - run average cost curves that show some output range over which there are economics of scale and wide range of output over which long- run average cost is constant.
The Federal Reserve buy $1 million in United State Treasury Bonds from a bond dealer, and the dealer's bank credits the dealer's account. The required reserve ratio is 15%,
A perfectly competitive market exists for the intermediate product at P=$6. Determine algebraically the profit-maximizing outputs for the production and marketing divisions of the firm and the optimal transfer price for the intermediate product an..
A machine with a ten year life is to be depreciated by the MACRS method. The machine has a 1st cost of $30,000 with a $5,000 salvage value. It's yearly operating cost is $7,000 per year.
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