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During the period of airline regulation, the government set airline fares and regulated an air carrier's entry into and exit from particular markets. Assuming that the incumbent airlines made economic profits while they were regulated, what impact, if any, did the government's regulation of routes have upon air carrier's ability to make profits?
What are primarily intended to address the problem of insuring people who do not have health insurance? Would a public national health insurance system reduce total spending on health care in our economy?
Suppose you bought a bag of groceries at Food Lion this past September for $46.54. Calculate the price of a similar bag of groceries in 1999 prices if the CPI
hat is your expected utility without insurance? Suppose you can buy insurance that will cover the medical expenses but not the foregone part of your salary. How much is an actuarially fair policy, and what is your expected utility if you buy it?
Fill in the table indicating whether the new Each row and column heading describes a shock to a market initially in equilibrium. Fill in the table indicating whether the new equilibrium price and quantity will increase, decrease, or not change.
Compute the employment rate (i.e., number employed: population) in each year? How can employment rate may go up or down in the unemployment rate stays the same? How can employment rate go up if unemployment rate also goes up?
Compute the short-run profit maximizing level of labor and capital demand. Compute the long-run profit maximizing level of labor and capital demand.
Leisure-Time boats is a manufacturer of mid-to-high end boats with 12 sales territories throughout the U.S. Sales are generated by salespeople in each territory who develop relationships with boating distributors and related retailers.
The Lexus LS 430, the top of the line Lexus sedan, riad a base price in Canada of C$85,700 during the fall of 2005. Restated in US dollars using the exchange rate prevailing then, that price is $71,885.
Explain the effects of these shocks on the price level, real GDP, and the nominal interest rate. Use an upward-sloping, short-run supply curve in your analysis.
Describe (in a sentence or two) the short run profit maximization condition when labour is the only variable input? What will happen to the labour demand if price of the output goes up?
How is interest rate described? Why is there a lower present value of goods to be delivered in future? What are their respective interest rates? Illustrate the adjustments which you think will ensue.
The winners of the Nobel Prize in economic science were recently announced-who were they? For what contribution to our understanding of economics were they recognized?
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