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In the Malthusian model, suppose that there is a technological advance that reduces death rates. Using diagrams, determine the effects of this in the long-run steady state and explain your results.
Compare the expected present value of net benefits of US social security for (a) earlier vs. later generations, (b) men vs. women, and (c) people who were married for over 10 years vs. people who were not.
Is the natural rate of unemployment fixed? Why or why not? How are full employment and the natural rate of unemployment related?
What if any difficulties do you think may be encountered in implementing the current policy being pursued by Fed Chairman Ben Bernanke to cope with one of the worst financial crises in the US since the Great depression?
Describe the coefficient of determination. Suppose if you were given that the independent variable was 5, what would the predicted value be.
What is the relationship between marginal cost and marginal revenue when single-price monopoly maximize profit.
Why do you suppose R was included in the equation as a variable? If you were a supplier to the furniture manufacturer.
When the demand curve and the supply curve both shift rightward at the same time (and that's the only information we have about this change) we can say that
In perfect competition, economic profit is driven to zero as more firms join the market bidding prices down. One way for firms to maintain positive economic profit is to sell differentiated products. What sort of characteristics might a company empha..
Suppose a public referendum is being held on whether or not to levy a tax on cigarettes. Currently, the supply of cigarettes is given by Qs = -120 + 28P. You estimate the demand for cigarettes to be Qd = 200 - 4P. What is the price elasticity of dema..
Crossroads Sign Case Assume you are the plant manager for Crossroads Sign Company, which produces road signs in a market that approximates perfect competition.
What are some of the concerns expressed by the public regarding proposed health care changes? How is this an example of fiscal policy decision-making?
In the two goods consumer demand setting, an increase in one of the prices of a given level can have the same effect on the budget constraint as a given (maybe different) increase in income. A consumer who can borrow and lend at a constant interest r..
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