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Suppose that the average household in a state consumes 500 gallons of gasoline a year. A 10 cent tax per gallon of gasoline is introduced, and couples are given a $50 annual tax rebate per household. Will the household be better or worse off after th..
Which of the following is not one of the services the Fed provides to commercial banks? If the prices of one good change while other prices are held constant,
Estimate the macroeconomic implications and microeconomic consequences of a monopolistically competitive firm or an oligopoly firm filing for bankruptcy.
Why do you think motorcycle makers did not adopt voluntary emissions standards? Should they have done so? Why or why not?
Calculate the equilibrium buyers' also sellers' price with no sales tax also then with the 20% tax Supposed above.
Consider a small nation producing both computers (y-axis) and coffee (x-axis) and facing increasing opportunity costs. Starting from a free trade equilibrium where this nation exports coffee and imports computers, can this nation experience “immiseri..
What factors explain wage differentials? why do movie stars get paid much more than school teachers? The answer must be explain the concepts as if your explaining it to a person who have no knownlege with the subject.
Consider a company that produces dog toys. The only resources that the company uses to produce these toys are Capital (i.e. machines and raw materials) and Labor (i.e. workers). The company sells 10,000 toys a month at $100 per toy. Write down the to..
In 2012, many unskilled workers in the United States earned the federal minimum wage of $7.25 per hour. By contrast, average earnings in 2012 were about $22 per hour, and certain highly skilled professionals, such as doctors and lawyers, earned $100 ..
For a series of random samples of 60, are the mean values of these random samples normally distributed. Calculate the standard error of the mean and explain the meaning of this value. Determine the 95% confidence interval and explain its meaning in t..
Alex and Becky are partners at an architecture firm. They are trying to determine which of them has a comparative advantage in building the 50 models required for a sales pitch to a prospective client. Alex can build 10 models per hour. For other act..
A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job. Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate is. Frictional unemployment results from
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