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Question: You will need to locate, read, analyze, summarize, and react to a (reputable) news article, news broadcast, or speech that is related to a subject that we have covered in this macroeconomics class. The article should be MACROECONOMIC in nature (not microeconomic, so it should not focus on a single market or firm, it should not focus on supply and demand). Appropriate articles could talk about GDP, inflation, consumption, interest rates, fiscal or monetary policy, etc. My goal is to have you think about the specific concepts, principles, and theories that you are learning in class and apply them to real-life events.
Suppose the utility function for a consumer is given by U = 5XY. X is the amount of Good X and Y is the amount of Good Y.
for i = 1, 2. Originally she faces prices p1 = p2 = $2 and has an income of $100. Then the price of good 1 increases to $4. Calculate the compensating and equivalent variations, given that Niki's utility function is u (x1, x2) = x1(1/2)x2(1/2).2. The..
How much will you pay each month for this laptop? What are your total acquisition costs of financing the laptop?
For Karr Company, the predetermined overhead rate is 140% of direct labor cost. During the month, Karr incurred $90,000 of factory labor costs, of which $80,000 is direct labor and $10,000 is indirect labor. Actual overhead incurred was $119,000.
Consider your decision about whether to go skiing for the weekend. Suppose that transportation, lift tickets, and accommodation for the weekend costs $350.
A restaurant industry has a market structure that comes closest to
Estimate the parameters of the model, present the results in standard form and then interpret them. Suppose that in 1981,the farmer planned to use 36 units of fertilizers, determine the expected impact on corn production.
Why do neoclassical theories of growth predict convergence of levels of income per capita and why do new growth theories predict divergence of levels of income per capita?
Describe the Learned Hand Rule, and discuss the economic logic underlying it. Do you believe the objective is being achieved?
What would you recommend that the firm do given this resource combination?
The following represents demand for widgets: QD = 680 – 9P +0.006M – 4PR, where P is the price of widgets, M is income, and PR is the price of a related good, the wodget. Supply of widgets is determined by QS = 30 + 3P.Solve algebraically for the new..
What is the firms total fixed cost - complete the missing data in the table. What is the firm's minimum-cost output?
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