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1.Harriet enjoys watching both American Idol and Desperate Housewives on television. Her preferences correspond to the utility function U(A,D) = 2A + 4D, where A stands for the number of ours she watches American Idol and D is the number of hours she watches Desperate Housewives.
a. How would Harriet rank the following alternatives: 4 hours of American Idol and 2 hours of Desperate Housewives, 2 hours of American Idol and 4 hours of Desperate Housewives and 3 hours of American Idol and 3 hours of Desperate Housewives?
b. Suppose that one week, Desperate Housewives is not shown, but there is a two-hour American Idol special (instead of the usual one-hour program). Is Harriet better off or worse off? Explain.
c. Would Harriet's preferences change if her utility function was expressed as U(A,D) = 2A + 4D+6? Why or why not?
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G rises and the Fed does not accommodate the shock to money demand. Scenario 2: G rises and the Fed accommodates the shock to money demand, as they would if they were committed to the zero bound.
Following are the Production Function: Q = 72X + 15X2 - X3, where Q = Output and X = Input The Marginal Product and Average Product when X = 6 are;
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Determine what changes in the relative proportions of labor and materials are needed to operate efficiently - Determine the marginal revenue function
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Propose two (2) applications of the knowledge that you have learned in this course to your current or a future position. Provide a rationale for your response.
For what reasons might the exchange rate diverge from the purchasing-power parity rate over the longer term?
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