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The _____ effect indicates that an individual’s income can buy more of all goods when the price of one good declines, everything else held constant.
a. income
b. substitution
c. endowment
d. scale
e. price
Ed and his wife Kathie own all of the stock of Crispin, Inc. Kathie is the president and Ed is the vice president. Kathie and Ed are paid salaries of $500,000 and $350,000, respectively, each year. They consider the salaries to be reasonable based on..
Suppose you have three indivisible assets, A, B and C with internal rates of return 2%, 5% and 10% respectively and initial costs of $1, $3, $3. Suppose you have $4 at 1% and can borrow at 12%. Which assets do buy?
Illustrate what would be the effect of poor weather on the consumer surplus, producer surplus, deadweight loss.
Suppose that investment decline by 40 units to a level of 60. What will be the new level of equilibrium income.
Picture Assume the market is in equilibrium in the graph shown at demand D and supply S1. If the supply curve shifts to S2, and a new equilibrium is reached. Equilibrium quantity increase from 4 to 4.5 units.
Let's use the model of inter temporal consumption choice to consider the behaviour of a hypothetical individual. This person is not liquidity constrained and is endowed with an exogenous amount of income in each of the current and the future periods.
The unemployment rate in the U.S is currently 5.6%. If the unemployment rate in March 2016 is 5.0%, what will be the rate of GDP growth according to Okun's law? Suppose GDP growth this year is 2%, what will be the rate of unemployment next year?
Illustrate what should the Fed do if it wants to stabilize aggregate demand.
Assume that a consumer has the utility function U(x,y) = 3x+y, where x and y represent the quantities of two goods, X and Y. The consumer has I=$60 to spend on the two goods, and good Y costs py=$2 per unit. The price of good x, px, is also exogenous..
Explain in detail the concept of excess burden (or welfare cost) and explain the factors significant in the calculation of the excess burden. What is the marginal excess burden and why is it important concept for policy evaluation?
What are the force and torque experienced by a system having a total dipole moment equal to 10?7 Cm in the negative z-direction?
Suppose that the return on short-term government securities (perceived to be risk-free) is 5%. Suppose also that the expected return required by the market for a portfolio with a beta of 1.6 is 18%. According to the capital asset pricing model (CAPM)..
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