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Draw the consumer's budget constraint and indicate the consumer's optimal bundle on the budget constraint. Make sure your graph is accurate and clearly labeled
U(X,Y)=2X+3Y. The consumer has $30 to spend and the prices of the goods are Px=$2 and Py=$5
Assume an economy's annual money velocity in circulation is 10. Please answer the following two questions:
You are planning for retirement 34 years from now. You plan to invest $4,200 per year for the first 7 years, $6,900 per year for the next 11 years, and $14,500 per year for the following 16 years (assume all cash flows occur at the end of each year)...
If you are near graduation and plan to start your new job in 3 weeks, how does the Bureau of labor statistics classify you? Unemployed, employed or notin labor force.
Almora a developing open economy is experiencing an economic boom since it discovered oil reserves off its coast two years ago. Bill Hudson, an economist with the finance Ministry of Almora, said in an interview that the oil boomhas improved the aver..
Assume that the train ticket price is $100 and 1000 passengers use train per day. 2000 passengers use buses and 5000 passengers use their own car. What can you say about the elasticity and cross price elasticity of these three transportation modes? W..
The tax multiplier is smaller in absolute value than the government purchases multiplier because some portion of the
In year 1 and year 2, there are two products produced in a given economy, cars and beef. Suppose that there are no intermediate goods. In year one, 200 cars are produced and sold at $15,000 each, and in year two, 250 cars are sold at $16,000 each. Ca..
North Carolina's unemployment rate has been higher than the national average since the onset of the Great Recession of 2008.
Explain, in the IS/LM/BP framework with fixed exchange rates, the impact of an autonomous increase in foreign demand for a country’s exports upon the country’s national income, money supply, and balance of payments. If there is no impact on a variabl..
a university spent 1.8 million to install solar panels atop a parking garage. these panels will have a capacity of
A U.S. Treasury bill is an example of a simple loan, coupon bond, fixed-payment loan, or discount bond? The estimated current purchasing price of a discount bond with a face value of ?$2000 and a yield to maturity of 11% is____ ? What is the approxim..
Explain the terms 'compensating variation' and 'equivalent variation' of a price change with diagrams. Under what circumstances would the two measures coincide?
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