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What is the future value of ?$480 per year for 10 years compounded annually at 10 percent?
What is the present value of ?$3500 per year for 9 years discounted back to the present at 10 percent?
To pay for your? child's education, you wish to have accumulated ?$10, 000 at the end of 13 years. To do? this, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 13 percent compounded? annually, how much must you deposit each year to obtain your? goal?
Consider a decision maker who is choosing how many apples to buy. His choice set is {0, 1, 2, 3, 4, 5, 6} (the store has only 5 apples). (a) Suppose the decision maker always wants as many apples as possible. Find a utility function that represents t..
The current price floor in the agricultural lettuce market is $1 per head. The price floor makes it such that the price of lettuce is 25% higher than equilibrium price and 100 heads of lettuce are demanded at the price of $1. Assuming that the elasti..
Social media can be used to help you network and to look for potential jobs. Describe what Linkedin.
Explain whether or not you believe modern media is an effective check on government action.
Suppose that the government levies a tax on oil companies equal to a proportion of the value of the company’s oil reserves. (The government assures the firms that the tax is for one time only.) According to the neoclassical model, what effect will th..
Given the information in the below article, explain, in economic terms and using the AD/AS framework, how Australia avoided negative economic growth
In this island economy, the (a) Orange Grove Owner likes only bananas and the (b) Banana Grower only likes Chocolate. Furthermore, the (c) Chocolate Maker only likes Oranges. Explain how trade between these three producers can occur. Will the Orange ..
You explain to your friend Haslina, who runs a catering service called "Meals in a Zip," about an economic theory which asserts that consumers will purchase less of a product at higher prices than they will at lower prices. She contends that the theo..
How much does market competition foster interpersonal antagonism? Do competitive markets drive people (customers, business, workers, etc.) apart?
Calculate the equilibrium national income for this economy. Calculate the multiplier for the economy.
The price elasticity of demand for Stork ice cream is -4. Suppose you're told that following a price increase, quantity demanded fell by 10 percent. What was the percentage change that brought about this change in quantity demanded?
Suppose that the price of oil (and gasoline) continues to decline. According to our discussion, what impact will this have on the economies of the U.S. states?
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