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(Inflation and Relative Price Changes)What does the consumer price index measure? Does the index measure changes in relative prices? Why, or why not?
Assuming no chnage in hours of work, if real output per hour of work increases by 10 percent, what will be the new levels of real GDP in the right column of A Does the new data reflect an increase in aggregate supply
Each society in the nation is suddenly responsible for designing its own local commodity based financial system, and you have been assigned the task of selecting what commodity your society will use and how it will be implemented.
Year price quantity demanded Real Income Price of Substitute 1 .95 200 11000 .65 2 1.10 180 11000 .65 3 1.10 190 11500 .65 4 1.10 200 11500 .90 5 1.10 170 11500 .90 6 .99 190 11500 .90 7 .99 175 10500 .90 8 .99 150 10500 .62
The subway fare in your town has just been increased from a current level of 50 cents to $1.00 per ride. As a result the transit authority notes a decline in ridership of 30 percent. a) compute the price elasticity of demand for the subway rides.
What analysis could they use to compare the performance of the two groups? (The results showed that "heavy users displayed significantly greater impairment than light users on attentional/executive functions.")
The demand for Wanderlust Travel Services (X) is estimated to be Qx = 22,000 - 2.5Px + 4Py - 1M + 1.5Ax, where Ax represents the amount of advertising spent on X and the other variables have their usual interpretations. Suppose the price of good X..
Suppose that fixed costs increase by $50 but the prevailing market price remains unchanged. Using algebra determine the effects of this change in cost on the profit maximizing output and the optimal profit. Do you see any change from your answer t..
Suppose a country can produce a maximum of 10,000 jumbo airliners or 2,000 aircraft carriers. a. What is the opportunity cost of an aircraft carrier b. If another country offers to trade six planes for one aircraft carrier, should the offer be accept..
What quarterly deposit must be made at the end of each quarter until Corey retires so that he can make a withdrawal of $40,000 semiannually over the first 10 years of his retirement. Assume that his first withdrawal occurs at the end of six months..
Is this car free because the winner pays zero for it?
Jim and Matt allocate their consumption between two goods: hats and bats. The price of hats is $4 each and the price of bats is $8 each. For Jim, the marginal utility of the last hat consumed was 8 and the marginal utility of the last bat was 24
In words, express what the beta coefficient for "school" means using the "rough estimate of 0.25" approach using the values estimated by STATA
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