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Discuss the following statement: ‘‘A community of a higher order should not interfere in the internal life of a community of a lower order, . . . but rather should support it in case of need and help to coordinate its activity with the activities of the rest of society always with a view to the common good.'' (John Paul II)
The third is for the government to distribute income to poor people. Which program is more likely to have a Pareto-efficient outcome? Describe why the other programs are not likely to be Pareto efficient.
Suppose that two power plants are necessary to keep the city from a black-out. Find the probability that the city will experience a black-out.
What is each country's cost ratio of producing Peaches and Apples?
Consider an economy in which taxes, planned invest-ment, government spending on goods and services,and net exports are autonomous, but consumption and planned investment change as the interest rate changes.
Suppose the consumption function is C = $400 billion + 0.8Y and the government wants to stimulate the economy. By how much will aggregate demand at current prices shift initially (before multiplier effects) with: ( a ) A $50 billion increase in go..
A monopolist has two types of customers. There are 100 of type A, who will each pay up to $10 for a single unit of goods, and 50 of type B, who will each pay up to $8. Neither is willing to purchase additional units at any price. If it must charge..
A trucking company fitted a regression to relate the travel time(days) of its shipments as a function of the distance traveled(miles). The fitted regression is Time = -7.1264 +0.0214 Distance, based on a sample of 20 shipments.
complete the short-run supply schedule for the firm and indicate the profit or loss incurred at each output *QS/SF= quantity supplied, single firm; *Pr. Or Loss= Profit or Loss; *QS/1500 F= quantity supplied, 1500 firms Price QS/SF Pr. Or Loss QS/..
gives data on X (net profits after tax in U.S. manufacturing industries [$, in millions]) and Y (cash dividend paid quarterly in manufacturing industries [$, in millions]) for years 1974 to 1986.
You know that different types of consumers value your two products differently, but you are unable to identify these consumers individually at the time of the sale. in particular, you know there are three types of consumers ( 1,000 of each type) w..
Why might the British government's critics have thought it possible to lower interest rates after taking sterling out of the ERM? (Britain was in a deep recession at the time the article appeared.)
Suppose Jose has a demand curve for tennis games (x) given by x = 60 3p where p is the price of one tennis game. There is a local tennis club that charges its members a fee of f dollars to join and play tennis at a price of p = 10.
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