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The U.S. was on a “gold standard” from 1879 to 1933. Which of the following was a a major disadvantage of being on the gold standard from an economic point of view? (a) the fixed exchange rate made international trade and investment easier. (b) the price of gold varied according to how much gold the government bought. (c) countries on the gold standard could not do expansionary monetary policy (d) it causes the currencies on the gold standard to appreciate and makes their trade deficits larger.
Over what range of wealth is this function potentially appropriate to analyze your financial choices under risk? Over this range of wealth, what is your attitude toward risk? What is your Arrow-Pratt measure of risk attitude?
Income elasticity can be either positive or negative depending on an item we are considering?
Starting with the situation in part d, suppose the government starts taxing the population $30 each year without spending anything.
Derive the income elasticity of demand function for individuals with (a) cobb-douglas (b) perfect substitutes and (c) perfect complements utility functions
Describe a situation that would call for applying one or more of any (dynamic economic model/legit model/random walk model/spurious regression/co integrated time series/tests of stationary). Explain your rationale for applying the model you chose.
Describe "Cap and Trade" as it relates to reducing a country's greenhouse gas emissions, in at least 3 content-rich sentences.
Assume that two firms sell differentiated products and face the following demand curves: = 15 − + 0.5 and = 15 − + 0.5 (Assume that the marginal cost is zero) Derive the best response function for each firm. Do these indicate that prices are strategi..
q1. a good example of an oligopoly market structure is the airline industry. there are not many airlines in the
The ultimate result of this one-shot, simultaneous-move game depends upon the choices made by both competitors.
In its effort to reduce the time value of money, the Federal Reserve System began aggressively increasing the supply of money through Quantitative Easing. What is true and what is false about the above statement? Explain
Suppose that each country has 100 workers and completely specializes in its comparative advantage. How many units of output of sippy cups and binkys will each country produce?
The main characteristic that distinguishes monopolistic competition from perfect competition is:
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