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Question: The median income of American households was $59,534 in 2007 and $61,372 in 2017. The top 5% of households earned $209,773 or more in 2007 and $237,034 or more in 2017. It is important to note that these amounts are in dollars of 2017 buying power, which allows us to compare the numbers directly. By what percentage did the income of top earners increase between 2007 and 2017? How does this compare with the percentage increase in the median household income between 2007 and 2017? The median income for the top 5 % of wage earners and the median income for all households from 2007 to 2017.
What is the minimum wait time, m, that will achieve separation of types?
When the government imposes an excise tax on foreign imports:
Executives Whose Wives Stay at Home Earn More" was the headline for an article that appeared in the San Luis Obispo Telegram-Tribune (Oct. 14, 1994).
Suppose that the household’s preferences are represented by the utility function U(C0, C1)= 100C0^ 0.5 C1^0.25. If the real interest rate is 5 percent, what is the value of the MRS of this household when it has maximized its two-period welfare?
Explain the benefits of a market economy. What is to be produced? How are the goods to be produced? For whom are the goods produced?
You are considering entering a market dominated by a monopolist. You currently earn $0 economic profits, while the monopolist earns $5. If you enter the market and the monopolist engages in a price war, you will lost $5 and the monopolist will earn $..
Consider the following game: There are 3 players. Each player decides whether to work on a common project or not. The project is successful only if 2 or more players work on it. When the project is successful, each player obtains a payoff of 20. When..
What is the implicit discount rate - What is the efficiency (in %) of a plant with a heat rate of 9,500 and build the supply curve
4-10calc A U.S. auto maker plans to build two more plants in China as it aims to harness continued growth in Asia. The company estimates that it must make annual investments of $40 thousand over a 15-year period. How much would the company have to in..
A tire manufacturer studying this effectiveness of television advertising on the sales of its GRIPPER-brand tires attempted to fit the data it had gathered into an equation. Which region would benefit more, if either, from additional advertising expe..
Do you think that the AUD will fall as low as US 65C by the end of 2016? Justify your answer. What advantages do you think Australia will have in such a scenario? If the market rate is US 65C then what action could the Reserve Bank of Australia take..
Kristen and Anna live in the beach town of Santa Monica. They own a small business in which they make wristbands and pot holders and sell them to people on the beach. As shown in the table, Kristen can make 15 wristbands per hour but only 3 pot holde..
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