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David's utility function is u(x, y) = 4x + 3y. The price of x is $6, the price of y is $6 and his income is $120. The price of x drops to $4, the price of y and his income remain the same. Calculate the total, substitution and income effects for his consumption of x due to the price change of x. On a clearly labeled graph, illustrate those three effects of the price change on his consumption of x
In the United States, the average hourly earnings of production workers in 2007 were $17.45 per hour. The national minimum wage was $5.85 per hour.
If people began recycling old cars more in the United States-repairing them rather than sending them off to junkyards-would the cost of spare parts probably.
What was the purpose of this symbolic gesture? How can the Fed's decision to use expansionary monetary policy in the future affect the short-run response of the economy?
Reducing tax rates: Suppose the government decides to reform the tax system to reduce the marginal income tax rate across the board.
Suppose the current price of gasoline at the pump is $3.89 per gallon and that 1 million gallons are sold per month. A politician proposes to add a 10¢ tax to the price of a gallon of gasoline.
Consider the following information for an economy. Calculate the equilibrium national income for this economy. Calculate the multiplier for the economy.
Show how one can derive the change in market value of equity as a function of adjusted duration gap, asset size and interest rate shock.
1.An introduction to the company and its industry, analyzing its background, industry, and structure. (For this, you can draw from the work you did for the second Unit 2 assignment.)
fatality rate on the regulation dummy variable and a trend term gives the results in Figure 21.11.6. Explain why the coefficient estimate for R changes. Be sure to discuss the relationship between R and Trend in your answer.
If RLW-II Enterprises (Problem) used an activity-based approach to allocate manufacturing indirect cost, what are some potential categories of indirect costs.
Inferring If Americans traditionally dislike monopolies, why do some monopolies exist today? What types of monopolies are they.
What assumptions must hold for OLS to give an unbiased estimate of β1, the structural effect of increasing the police budget on the murder rate?
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