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1. Show that for a economy where the growth rate of GDP is zero, to keep its debt-GDP ratio constant, the government must run a primary surplus equal to the interest payments on its outstanding dept.
Illustrate what are implications for economic analysis if most people don't follow economic decision rule in many aspects of their decisions.
Why it is generally not reasonable to say that a particular Pareto-efficient allocation is the most desirable allocation that can be reached.
According to the New York Times (11/18/06) the number of car producers in China is increasing rapidly. The newspaper reports that “China has more car brands now than the United States.” But while car sales have climbed 38% in the first three quarters..
there was a month in which employment and the unemployment rate both rose. Assuming the computations were correct, how is it possible for both to have increased.
Suppose that, instead, the market quantity demanded at a price of $1.33 is only 75,000. How many firms do you expect there to be in this industry.
One suggested remedy for high drug prices in the US is the re-importation of drugs at lower prices from other countries. Do you think this re-importation of drugs is a good idea? Why or why not? What are the costs and benefits of this practice?
Illustrate what does this outcome reveal about the size of the multiplier
David Jones deposited $4,247 in a savings account on Jan. 1st 15 yrs ago. He received 6.05%/yr interest for the first 12 years and 2.49% interest since then. How much will his account be worth at the end of this yr (i.e., at the end of the 15th year
Suppose a consumer's preferences can be represented by the utility function: U(X,Y)=X^3/5Y^1/4. Derive the function for the marginal rate of substitution holding utility constant. Derive the demand curves for the two goods, X and Y.
Representative consumers have the utility function U(C,Ls) = log(C) + log(1- Ls). Representative consumers have labor endowment of 1. So Ls must be less than 1. Write down the budget constraint of the representative consumer. Write down the maximizat..
For an annual market interest rate of %9, calculate the economic life of the machine. Show the results of your calculations on a graph.
The year 2014 was a perfect storm in the hazelnut industry: terrible weather and blights reduced crops. People in China started eating large numbers of hazelnuts, and recent information on the health benefits of these nuts increased domestic demand. ..
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