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How are the following calculations are made?
When income increased by 10%, the quantity of memberships of athletic clubs increased by 15 percent, the quantity demanded of spring water increased by 5 percent, and the quantity demanded of soft drinks decreased by 2 percent. Use the
a. Is club membership a normal or an inferior good?
b. Is demand for club membership income elastic or income inelastic?
c. Is spring water a normal or an inferior good?
d. Is soft drink a normal or an inferior good?
Assume the market demand and supply functions are QD=430-5P and QS= 2P + 318. You have just graduated and moved to this city;
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Compute the marginal cost and marginal revenue of each unit of output and enter these figures in the table.
Discuss three automatic expenditures in the federal budget. What is the difference between discretionary fiscal policy and automatic stabilizers?
As advisors insists that this would not work, another advisor thinks it's good policy. Which advisor is correct.
Money is an interesting topic and there is much to learn that is not common knowledge regarding how we create money, especially money that is just printed!
Discuss the difference among inflationary gap also deflationary gap.
Explain how can these limits to reimbursement be viewed as the exercise of monopsony power.
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