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Question: Craig and Fatima are classmates who are both taking this quiz. Their value function is v(x)=x/3 for gains and v(x)-3x for losses Craig expects to get 60/ That is his reference point How much is the change in terms of value that he will experience if he scores 70?
State two ways the labor supply curve shifts to the right. Explain how each way impacts the equilibrium wage, equilibrium full employment, total output, productivity, and standard of living in the economy?
At the end of 4 years, she sold the lot for a net value of $15,000. What rate of return did she receive on her investment?
What does the elasticity of demand for labor measure? List and describe the three determinants of this type of elasticity.
Calculate the average starting wage (wage_st) separately for restaurants in NJ and in PA, both for each interview wave.
The following highlights the inseparable relationship between education and the economy.
Which of the following is an example of moral hazard? With regard to income inequality, which of the following is most accurate?
Explain the reasons behind the shift and how that has influenced the equilibrium price.
How does a reduction in pension subsidy raise retirement savings?
Assume the wheat industry starts out in the long-run competitive equilibrium. Using appropriate diagrams show how this would look like at both the industry
"Assume that 10% increase in the price of good A leads to 15% reduction in the sale of good B. This implies good A and good B must be complementary goods"
Assume that investments is highly insensitvie to the interest rate. Explain what effects are on interest and income of an increase in government expenditure (G). Which compent(S) of aggregrate demand are crowded out (i.e., reduce)? Use IS-LM diagram ..
Answer the following questions about Keynesian vs. Classical view of economics. Marginal propensity to consume (MPC) is the slope of the Keynesian AEcurve. Using an equation and words, describe the relationship between MPCand the Keynesian spending m..
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