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Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour, assuming she does not do anything else in that hour. She spends 5 hours per day studying.
A. Draw Maria's production possibilities frontier (PPF) for reading economics and sociology assuming there are 5 hours of study per day. Identify the slope and intercepts for this PPF.
B. What is Maria's opportunity cost of reading 100 pages of sociology.
Assume a normal random variable x, with mean 100 and standard deviation 20. a. Find the probability that a randomly chosen value of x is less than 95. b. Find the probability that a randomly chosen value of x is between 60 and 100. c. Find the 95th p..
Suppose that the money demand is given by: Md = PY(0.25 i) Suppose that nominal income is $100 and wealth is $500 and that the money supply is set by the central bank at s = 20. a. Derive the demand for bonds.b. Draw the supply and the demand of mon..
A firm is planning to manufacture a new product. As the selling price is increased, the quantity that can be sold decreases. Numerically they estimate P = $35.00 - 0.02Q (P = selling price per unit, Q = quantity sold per year)On the other hand, ma..
Let X = the monthly tons of dirt moved and assume that it does not change with time. Draw the cash flow diagram for this project as a function of X. Assume that "up" arrows are savings or revenue and down arrows are expenses. If you cannot do part..
Consider the following data on U.S. GDP: CHAPTER 15 MEASURING A NATION'S INCOME 327 Nominal GDP Year (in billions of dollars) 2009 14,256 1999 9,353 GDP Deflator (base year 2005) 109.8 86.8 a. What was the growth rate of nominal GDP between 1999 an..
Nominal GDP uses current prices as a measure of the value of goods and services produced, while real GDP uses prices of goods and services in a base year to measure value. Suppose an economy consists of three goods: pizza, sodas, and televisions.
When you were born, your grandfather established a trust fund for you in the cayman islands. The account has been earning interest at the rate of 10% per year. If this account will be worth $100,0000 on your 25th birthday, how much did your grandf..
A local video store estimates that their average customer's demand per year is P = 3.5 - 0.5Q (all customers are identical), and knows that the marginal cost of each rental is $0.5. How much should the store charge for an annual membership
Total annual taxable income is $210,000; tax is: 2. Your company is in the 34% tax bracket; for an additional $32,000, your incremental tax is: 3. Your total taxable income is $64,000; you are considering an investment that will net an additional $..
What is the equivalent present value of the following series of payments: $7000 the first year, $6500 the second year, $6000 the third year, $5500 the fourth year, and $5000 the fifth year The interest rate is 10%, compounded annually.
Each year in the United States nearly 5 billion pounds of discarded carpet end up in land fills. In response to this situation, the carpet manufacturer has decided to start a take-back program whereby obsolete carpet is reclaimed at the end of its..
the following regression model has been proposed to predict sales at a computer store. y = 50 - 3x1 + 20x2 + 10x3 where x1 = competitor's previous day's sales (in $1000s), x2 = population within 1 mile (in 1,000s) x3 1.) if radio advertising was u..
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