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1. Imagine that you're on vacation in Russia, when suddenly you're arrested and accused of spying for the United States. (You're innocent, of course.) Your captors informyou that if you confess, you'll receive a prison sentence of two years, while your co-conspirator (whom you've never heard of) will receive a prison sentence of twenty years. If you both confess, you'll each receive a prison sentence of five years. You're also told that your co-conspirator is being offered the same option. If you both maintain your innocence, however, there's not enough evidence to convict either of you. Applying economic theories to the problem, what should you choose to do, and why?
2.A hotel owner, having heard that new hotels plan to open in his area, saysl "We have too many hotels in this town already. Statistics show that vacancy rates average 20 percent on any given night." Assuming this is correct, evaluate his negative assessment of the situation in terms of business-stealing and product-variety externalities.
3.why a consumer who chooses a consumption bundle in which the relative price exceeds the marginal rate of substitution can't be at an optimum?
After two years the City of Plentiful is faced with a fiscal crisis and decides that it wants its garbage back.
Discuss the feasibility of lower middle or low income countries resorting to fiscal stimulus to stave off recessions in their own economies. You can use one or more countries as examples.
Illustrate what Information do you require to perform a marginal analysis to identify the profit-maximizing output.
In your opinion, do you feel education is important in getting a better job and earning more money. Why or why not? Do you believe there are opportunity costs to furthering your education? If so, what are they? If not, why?
Illustrate what were some changes of the demand also supply fconditions that lead to the housing market bubble and collapse
Explain why the FOMC opted to include language about the specific level of unemployment it wants before it might consider possibly increasing the Federal Funds rate. What is the expected benefit, and what might be the cost?
Elucidate how managers can reduce their firm's financing cost.
Two identical firms face linear demand. Market demand is given by P=30-Q. Compare graphically consumer and producer surplus in Cournot and Stakelberg equilibria to perfect competition.
The spreadsheet lists components of aggregate planned expenditure in the United Kingdom. The numbers are in billions of pounds.
What is the firm's cost function when the cost of pollution certificates is included? What is the firm's marginal cost function when the cost of pollution certificates is included? Derive the firm's supply function.
A contry's currency will depreciate if its inflation rate is less than that of its trading partners.
In a speech, Professor Gregory Mankiw contends that our elected federal leaders should raise the gasoline tax. Not quickly, but substantially.
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