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If the college introduces a strictly enforced minimum wage of $11.50 an hour, how many students are employed, how many are unemployed, and what is the lowest wage at which some students would be willing to work?
Suppose a bank discovers that its reserves will temporarily fall slightly short of those legally required. How might it remedy this situation through the Federal funds market? Now assume the bank finds that its reserves will be substantially and p..
Suppose there are three people discussing the amount of taxes they pay and wondering if the current tax system is fair. Jeff earns an income of $300,000 a year and has an annual tax bill of $40,000. Margaret earns and income of $200,000 a year an..
Find the Nash equilibrium of Cournot's game when there are 2 firms, the inverse demand function is given by equation P(Q) = a - Q if Q a
If the quantity of money rose 10%, velocity was unchanged, and output rose 6%, what would be the inflation rate, according to the equation of exchange? Equation given: (Quantity of Money) * (It's velocity) = (Price level) * (Output) or ((QM) * V ..
America takes 10 hours to make a cup and 5 hours to make a bag. In Britain the two goods cost $24 and 6 hours. America has 40 hours of labor available. Which goods does America export. Which country has the higher wage
Try tracking a particular foreign currency over the course of several weeks. Has the dollar been appreciating or depreciating relative to that currency? Try to explain why it has been appreciating or depreciating
A consumer must divide $250 between the consumption of product X and product Y. The relevant market prices are Px $5 and Py $10. Show how the consumer's opportunity set changes when the price of good X increases to $10.
Does the result in part (a) allow you to conclude that there is a strong correlation between eccentricity andsmoothness? Explain.
Each existing firm and every potential entrant faces an identical U-shaped average cost curve. The minimum level of average cost is $10 per ton and occurs when a firm produces 5 million tons of cobalt per year.
Without participation incentives, will a confused student ask a question when it would be socially efficient? How will they know it is socially efficient? How would you design an incentive system to generate questions from confused students?
the Advisability of which action to take depends on how the market will respond to the new product.If demand is high, then its worthwhile to make the extra investment for special facilities and equipment needed to produce the component internally.
Assume that a state government currently provides no child care subsidies to working single parents, but it now wants to adopt a plan that will encourage labor force participation among single parents. Suppose child care costs are hourly.
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