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A man is buying a small garden tractor. There will be no maintenance cost during the first 2 years because the tractor is sold with 2 years free maintenance. For the third year, the maintenance is estimated at $80. In subsequent years the maintenance cost will increase by $40 per year. How much would need to be set aside now at 8% interest to pay the maintenance costs on the tractor for the first 6 years of ownership?
If the Federal Reserve reduced its reserve requirement from 6.5 percent to 5 percent. Real gross domestic product is best defined as
To produce a boat, you need wood as an intermediate good. If this country imports both boats and wood, a 10% tariff rate can be imposed on boat imports, and a 5% tariff rate can be imposed on wood imports. The price of a boat is $1000 before the tari..
explain why the actual increase in M-1 will be smaller than that indicated by the over smplified multiplier.
Consider the discrete Bertrand game described in the Oligopoly lecture notes/video. According to the rules of this game each student selects a number from the set {0,1,2, 3, 4, 5, 6, 7, 8, 9, 10} and is randomly matched with another student.
Which one of the following statements about a market economy is? FALSE?
Comment on: ”Some researchers believe sports participation might shape various personality traits, other researchers believe we participate in sports because of our personality type”. In essence, this is the nature - nurture debate. How would this af..
A critical 21st century challenge will be maintaining and reinforcing the critical relationship between government, military and people specified by Clausewitz's holy trinity a function that has sustained increased pressures from American's wars a..
Jim sees commuting by bus and T as perfect substitutes (U = T + B), that is, he would exchange one commute by bus for one commute by T. The price of a bus ticket is $1.50 and the price of a T ticket is $2.00. Explain the relationship between the slo..
A third brother, Rex Carr, owns a junk yard. Rex can use one of two methods to destroy cars. The first involves purchasing a hydraulic car smasher that costs $200 a year to own and then spending $1 for every car smashed into oblivion; Write down the ..
The Lunchbox is one of many options for workers in Lanford, IL to get a quick and tasty meal at reasonable prices.
Has the Second Amendment's practical intent been eliminated by the existence of modern governmental resources to provide for state militias and a standing Army?
Business has only one social responsibility-to make profits (as long as it stays within the legal and moral rules of the game establised by society). Few trends could so thoroughly undermine the very foundations of our society as the acceptance by..
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