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Economics and Personal Finance Module Four Lesson Three Activity
For each scenario below, identify what bank service would best be used and explain your reasoning. Include one positive and one negative about using that particular tool.
Scenario 1: Joey is a 15 year old who is ready to work, but his parents want him to have more responsibility with money first. His parents have already set up checking and savings accounts for him at their bank. They want him to begin to learn the responsibilities of paying part of his cell phone bill and see what it is like to stick to spending limits.
Bank Service
Why?
Positive
Negative
Scenario 2: Vanya inherited $2000 from her grandmother after she passed away. Her grandmother wanted her to use the money to help buy her wedding dress so she wants to save it until she is ready for that big event. She wants to earn as much interest as possible on her grandmother's money.
Scenario 3
Duncan was hired by a local pizza store for his first job and he is very excited. On his first day at work, his manager told him that they didn't use paper checks for payment. Duncan doesn't even have an account at a bank yet.
Bill receives utility form consumption of two goods X and Y. If price of X is $6 and Price of Y is $2, Bill’s budget is $14 and the marginal utility of X is MUx = 3X^2Y^4, what is the optimal amount of X and Y. Solve using the Lagrange multipliers me..
Bob makes hand-sewn sweaters, 250 of them per year, sold for $200 each. His annual costs are: fabric for $300, thread for $50, a sewing machine that is leased annually for $40, and needles that are leased annually for $5. T
Explain the role that globalization plays in the structural stagnation hypothesis.
You are Sam Smith, a network technician with Global Packaging. You have been asked to configure the Internet Protocol (IP) address and subnet mask on a local host computer to enable IP connectivity. For this assignment, include the following:
If the firm currently has 20 units of capital (K) and 10 units of labor (L), then calculate the Marginal Rate of Technical Substitution (MRTSLK).
In the loanable funds market, each dollar borrowed: Because businesses are the primary:
Suppose a bank will pay you a 10% interest rate on your deposits for 1 period. In this case you must sacrifice $10 of current consumption to finance. One thousand dollars given to you a year from now is worth __________ to you today if the relevant d..
The Federal Reserve cut interest rates dramatically in 2008 in response to the worsening credit crisis. Many emerging market countries were pegged to the dollar at this time. Is this consistent with what you might expect, given your knowledge of the ..
Determine the number of souvenir coins that must be sold per year to justify the purchase of a $6000 stamping machine.
FACTS Lydia Gonzalez, 5 8 (plaintiff), worked as a reporter at El Nuevo Dia, a Puerto Rico newspaper. Her supervisor, Maria Luisa Ferre, often said that Ms. Gonzalez’s demeanor and couture were “[o]ut of style” and “colorless,” and her coiffure was “..
Suppose that the income elasticity of demand for hardback books is 2.5, that household incomes are rising at 2% a year., and that 2 million are initially being sold per year. The own price elasticity of demand is -0.5 and the cross-price elasticity o..
Hypothetical Country has $130 in currency, $520 in reserves, and $910 in deposits. There are no excess reserves. Use this information to answer the following questions. Enter your answers in decimal form rounded to two decimal places. Calculate the m..
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