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1. Household production consists of
A) any commodities which are produced at home and then sold.
B) any commodities which are produced at home and yield utility to the family.
C) any time spent at home by any family member.
D) any commodities purchased for use in the home.
2. The deportation of illegal aliens may create jobs on a one-to-one basis for native workers if
A) the minimum wage is above the equilibrium wage.
B) the minimum wage is below the equilibrium wage.
C) the labor supply curve is very steep.
D) the labor supply curve is very flat.
Suppose that the required reserve ratio is 6.25%. If the Fed sells $350 million of bonds to the First National Bank. What happens to reserves and the monetary base? What will happen to the money supply? Show the changes in First National Bank's balan..
Complete the expense budget, budgeted statement of financial performance: you will need to add the non GST items to the expense budget, and the cash flow budget which has an opening cash balance of $42,000. The opening GST liability is $2,000 and ..
q.mirk labs is a pharmaceutical company that currently enjoys a patent monopoly in europe canada and the united states
Currently there is a debate about whether high employment rates in the US are the result of cyclical factors or structural factors. Describe this debate? What impact might immigration have on the different types of unemployment?
The national minimum wage in the United States is currently $7.25 an hour. There are several arguments against the idea of minimum wage because it is supposed to harm those it is meant to aid. Use elasticity to explain/refute this idea.
An existing company is considering expanding into a new product line that will use the same factory as its existing products.
Mary has bought a used car for $8,000. She plans to keep it for four years while she is in college, at the end of which it is likely to fetch $1000, If the maintenance cost is $500 per year, and i = 10% per year, what is the car's net annual cost? (I..
Fiscal policy refers to change in
Jack is looking to replace the recently sunk Black Pearl. In an uncharacteristically well-behaved moment, he considers buying a new ship with his pirate's hoard of gold. But which to buy? The Retribution costs $7,000 and should last three years, wher..
The Federal Government had a budget surplus in 2001 but a budget deficit in 2002. This was due to the recession, the tax cut, and the increased military spending. The change from a budget surplus to a budget deficit was due to Midterm 4.0.pages
List and explain any externalities in consumption that exists for kindergarten through 12th grade education. Use caution in your economic reasoning and Analysis, and take care in the use of graphical display.
Given the short-run (SR) cost curve in the chart above for a firm in a perfectly competitive market, find the firm’s best output level and total profits when the market price is: a) $18, b) $13 c) $5 d) $3.
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