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1. What are two striking business cycle events in the United States during the last 112 years?
2. List six fundamental macroeconomic questions.
3. In a graph of the natural logarithm of an economic time series, what does the slope of the graph represent?
(a) What will be the result when each firm chooses a high-price strategy (b) What will be the result when Firm A chooses a low-price strategy while Firm B maintains a high- price strategy (c) What will be the result when Firm B chooses a low-price st..
In this economy, all production output goes to either consumption or savings. The saving rate is fixed at s where 0
Suppose that unionization levels-up the wage to $130: Both types of teachers earn a wage of $130. Use your supply curves to compute the number of average and high-quality teachers. How has the composition of the workforce changed?
Comparing and contrasting three of the economists and their philosophies. In your summary, articulate only one economist you believe is most representative in today's U.S. economy and defend your position with persuasion
Should this offer fundamentally alter the outcome of the game? (Hint: Think about this problem using backward induction!)
The compound bar carries the axial forces P and 2P. Find the maximum allowable value of P if the working stresses are 40 ksi for steel and 20 ksi for aluminum, and the total elongation of the bar is not to exceed 0.2 in.
Both SmithCo and Jones Inc. sell widgets. SmithCo's sales last month equaled 1000 units and it charged a price of $2. This month Jones Inc. reduced the price it sells its brand of widgets from $2.10 to $2, and SmithCo saw a reduction in the quanti..
A mine is for sale for $240,000. It is believed the mine will produce a profit of $65000 the first year, but the profit will decline $5000 a year after that, eventually reaching zero, whereupon the mine will be worthless.
The supply curve for product X is given by QXS = -340 + 10PX . a. Find the inverse supply curve. P = + Q b. How much surplus do producers receive when Qx = 350? When Qx = 1,000?
Suppose the LRAS is positioned at a real GDP of $12 trillion in base year dollars, and the long run equilibrium price level (in index number form) is 115. The corresponding full employment level of nominal GDP must be how much trillion dollars.
What are the principal sources of government revenues in developing countries? Why are many taxes so difficult to collect? Discuss. In what ways do you think taxation and expenditure systems in developing countries could be improved? Be specific.
The Zenvox TV Company faces a demand function for its products that can be expressed as Q = 4,000 - P + 0.5i, where Q is the number of tv's, P is the price per tv, and i is the average monthly income. Average monthly income is currently equal to $..
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