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Assume a government is financing expenditure by printing money. Assume Mt = zMt-1 where z>1 and that the new of money is introduced into the economy through lump-sum transfers to each old person in period t. The new money is worth at units of consumption good. Answer the following:
1. What is the value of money creation?
2. Using the first period and second period budget constraints, compute the rate of return for money
3. Compute the rate of change of the price level
4. Show graphically the budget set with inflation
5. Is printing money an efficient way for the government to raise revenue?
Last year, Jarod left a job that pays $50,000 to run his own bike-repair shop. Jarod’s shop charges $65 for a repair, and last year the shop performed 3,000 repairs. Jarod’s production costs for the year included rent, wages, and equipment. What is J..
Use Excel charts to show how the supply and demand curves would shift if the consumers would all of a sudden be willing to purchase 3 additional units (beyond w
A 50-kilowatt gas turbine has in investment cost of $40,000. It costs another $14,000 for shipping, insurance, site preparation, fuel lines, and fuel storage tanks. The operation and maintenance expense for this turbine is $450 per year. what is the ..
q1. what are the main reasons for people to make non-rational choices? is there any specific science that study
Suppose that the inverse demand curve is: p(q) = a − bq, and the cost function is: c(q) = cq. How much consumer surplus is generated when the price is p*? How much producer surplus is generated at p* If the monopolist can only set a linear price (tha..
Discuss each of the pricing strategies below. What conditions are necessary to make each strategy successful in terms of increasing profits?
A special purpose machine can be purchased for $90,000. The operating & maintenance expenses for each of the next five years and the market value at the end of each of the next five years are shown below. If the MARR is 15% per year compounded yearly..
In 2009 the American auto industry was in a dire economic state. Chrysler was in Chapter 11, GM was on the brink of bankruptcy, and Ford's future was at best un
Explain why it would generally not be considered wise economic policy for a government to attempt to achieve a balanced budget
In the short run, a firm's total costs of producing 100 units of output equal $10,000. If it produces one more unit, its total costs will increase to $10,150. Illustrate what is marginal cost of the 101st unit of output.
One of the criticisms of oligopolies is the adverse impacts these firms have on income distribution. Do you believe that is a valid criticism? Discuss with appropriate examples.
Facebook is by far the largest social-networking website in the world. Explain how network externalities help Facebook maintain its position as market leader.
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