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Joe earns $3000 per month, and he spends around $300 on food.
a. Illustrate the impact of food stamps worth $100 compared to a $100 cash transfer on Joe's budget set
b. Starting this month, Joe would receive food stamps worth $100 per month. How much more food would he buy this month if food on average costs $2 per unit.
c. How would your answer in (a) change if Joe actually receives $100 in cash.
What are some things that would affect changes in supply? How can quantity demanded be changed and what if the government raised the minimum wage. How would this policy effect your firm?
Assume a simplified banking system in which all banks are subject to a uniform reserve requirement of 20 percent and checkable deposits are the only from of money. A bank that received a new checkable deposit of $10,000 would be able to extend new..
A company consists of two kinds of employees, tall and short. Each person can work in either of two jobs, honest work or stealing from the company. The wage to honest work for a short person is wS, while the wage for a tall person is wT.
Find the expected value of the lottery induced by accepting the second wage offer and find the expected utility associated with the second offer.
What is the minimal wage that must be offered to Yumi for her to sign this new wage contract and what is Yumi's expected revenue when she works hard? What is Yumi's expected revenue when she does not work hard?
Discuss why a firm's long-run costs are minimized when it employs the mix of resources such that the ratio of all of the resources' marginal products to their wage rates are equalized. Employ a graph to illustrate.
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Today, the Federal Reserve announced that it is reducing the discount rate by 0.5%. How would you expect this announcement to affect the value of your bond?
Write the expression for this firm's Total Revenue and write the expression for this firm's marginal revenue - what is the profit maximizing (or loss minimizing) level of output
The population proportion of economists predicting growth of at least 2.5% in real gross domestic product. The variance of the sample proportion of economists predicting growth of at least 2.5% in real gross domestic production.
What are the effects of labor unions on wages and productivity? what are the Right-to-work laws in individual states?
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