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The level of productivity in Country A, relative to Country B, is 0.5. Country A lags behind Country B technologically by 20 years, and the growth rate of technology is 1% per year.
a. What is the level of technology in country A relative to country B?
b. What is the level of efficiency in Country A relative to Country B?
At the beginning of this year, daily consumption of gasoline in the US amounted to 344 million gallons. It is estimated that for every 10% increase in the price of gasoline, quantity demanded falls by 2.30%. By the end of this year, the price of gaso..
A car dealership typically determines a distinct price for a car for each customer. This is an example of what type of price discrimination? Why is the dealership able to carry out this type of price discrimination?
Suppose that currently the government provides everyone with a guaranteed income of $10,000 per year, but this benefit level is reduced by $1 for each $1 of work income. The government is considering changing this policy so that the benefit level is ..
Quotas and tariffs can: Macroeconomics is:
What future amount of money will be accumulated 10 years from now by investing $1,500 now plus $2,200, 5 years from now at 8% interest compounded semi-annually?
Explain your answer in under (and assume free choice-no arranged marriages). Only analytical and economic-based answers are acceptable.
Assume the utility functions for two cities are identical and are given by U=1.6N --- 0.13*N2, where N denotes the city’s population in million. What is each city’s utility maximizing population? If each city had a population of 9 million people, ho..
During 2009, the demand for LCD televisions appeared to be falling. At the same time, some industry observers expected that several smaller television manufacturers might exit the market. Use a demand-and-supply graph to analyze the effects of these ..
If the interest rate on euro-denominated assets is 7 percent and it is 5 percent on dollar- denominated assets, and if the dollar is expected to appreciate at a 4 percent rate, for Francois the Frenchman what is the expected rate of return on dollar-..
During 2015, Kent, a 40-year-old taxpayer, reports the following items of income and expense: Assuming all of these items are deductible and that the amounts are before any limitations, what is Kent's taxable income for the year?
Your text, on page 629, lists three arguments for trade restrictions. Since economists do not favor trade restrictions, and this is a course in Managerial Economics, make the case as an economist against trade restrictions for these three items. Are ..
Assume that with probability q, the consumer is a patient person. So he will visit both sellers and compare the two prices. With probability 1 − q, the consumer is impatient and will randomly visit one -1- ECON101 Winter, 2016 of the two sellers with..
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