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Monetary and fiscal policies are the main macroeconomic tools by which government can influence the performance of an economy
Assume a competitive industry in long-run equilibrium. The industry exhibits increasing costs. All the workers in the industry earn the minimum wage. Suppose the minimum wage is increased by 15%. What is the short-run response of the industry and the..
What happen if he goes to market, he must feed the horse 50lbs of rice. draw the budget constraint for beans and rice
You are given an undirected graph G = (V,E) with positive weights on the edges. The number of edges in G is |E| = |V| + k for some constant k. Design and analyze an efficient algorithm that finds an MST (minimum spanning tree) of G.
Which is not true of a public good?
When quantity moves proportionately to the same amount as price, demand is:
According to the neoclassical view of labor markets, what is the likely effect of an increase in the federal minimum wage on the employment of low-wage workers? Describe and show graphically. What happens to the aggregate earnings of low-wage workers..
A person can choose to work any amount from 0 to 52 weeks per year at a wage of $1000 per week. Draw her annual budget constraint, representing total annual consumption versus annual weeks of leisure.
Does a lump sum tax cause the after tax consumption schedule to be flatter than the before tax consumption schedule.
Determine if each of the following value functions is loss averse. (a) v(x) = 0.25x for x > 0 and v(x) = 0.5 for x ≤ 0 (b) v(x) = √x for x > 0 and v(x) = 0.5x for x ≤ 0 (c) v(x) = ex for x > 0 and v(x) = −√−x for x ≤ 0 (d) v(x) = √x for x > 0 and..
Explain how would we measure the cost of the project to determine whether it is worth undertaking.
What is the external cost per unit of output?b. What level of output will be produced?c. What level of output should be produced to achieve economic efficiency?
q1. would you expect firms in a tight oligopoly market reap higher profits than firms in a loose oligopoly market?
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