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Your boss is the director of reporting for the Athens County Construction Agency (ACCA). It has been his job to track the cost of construction in Athens County. Twenty-five years ago he created the ACCA Cost Index to track these costs. Costs during the first year of the index were $12 per square foot of constructed space (the index value was set at 100 for that first year). This past year a survey of contractors revealed that costs were $72 per square foot. What index number will your boss publish in his report for this year? If the index value was 525 last year, what was the cost per square foot last year?
Purchasing Power Parity (PPP) implies that
Which of the three sociological perspectives (Functionalism, Conflict Theory, or Symbolic Interactionism) best explains the social problems that exist in society? Why do you think the perspective that you chose best explains social problems?
George and John, stranded on an island, use clamshells for money. Last year George caught 300 fish and 11 wild boars. John grew 200 bunches of bananas. In the two-person economy that George and John set up, fish sell for 2 clamshells each, boars sell..
Illustrate what will be level of employment under monopsonistic conditions.
Consider the production function q=4L^.3K^.8. In the short run, assume K=5. Derive formulas for Total Product, Average Product, and Marginal Product. Graph these three functions.
Economic consequences and positive accounting theory try to explain why managers care about accounting policy choices and to predict how managers will respond to changes in accounting standards. Explain the relation between economic consequences and ..
For the following sets of goods, draw two indifference curves(IC1 and IC2 where IC2 yields a higher level of utility than IC1). Draw each graph so that the quantity of the first good is on the horizonal axis and identify utility functions for part a)..
Investigate the "Standards Development" process for IT type products and interfaces. Identify at least two ways that standards are agreed to.
Briefly discuss the differences between the Ricardian Theory, Specific Factors Model and Heckscher-Ohlin Theory of Trade.
You purchased a bond for 9500 dollars. The bond matured in 4 years and you sold it for 111,000 dollars. The par value (face value) of the bond was 10000 dollars. Interest payments were made every 6 months. The personal rate of return you received (so..
Demand deposits and other checkable deposits have replaced paper and metallic currency as the major source of money used for transactions in the united states. -Credit cards are not money; they are substitutes for the use of money in echange. most of..
Boris budgets $9 weekly for his morning coffee with milk. He likes it if it is prepared with 4 parts coffee, 1 part milk. (Milk and coffee are perfect complements here). Coffee costs $1/oz, and milk $0.5/oz. Draw his budget constraint and indifferenc..
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