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1. Which of the following is a nonmonetary cost associated with purchasing a car?
a. The interest rates on the car loan
b. The registration of the car
c. The excise taxes paid on the car
d. The recurring monthly installments for the car
e. The time taken to test drive various car models
2. ___ are commonly determined by ranking people into higher or lower positions of respect.
a. Social classes
b. Social roles
c. Reference groups
d. Market segments
e. Functional teams
Given the following information for the Macro Economy answer the following questions. In this economy we have an MPC equal to 0.80, Autonomous Consumption of $600 billion, Planned Investment (I) of $1,000 billion, Government Spending (G) of $1,200 bi..
Sylvia lives in California and qualifies for the CalWorks program (California’s version of TANF). CalWorks participants can earn $225 per month without having their benefits reduced. Beyond $225, benefits are reduced by 50 cents for every dollar of e..
Suppose a wage increase from $25 to $27 an hour increases the number of job applicants from 52 to 66. Illustrate what is the price elasticity of labor supply.
Analyze the societal views towards women in India. What is India policy toward gender equality? If available, you can also comment on policies regarding homosexuality and transgender.
Two firms with MC1 =10 and MC2 =12(each unit costs $10 for firm 1 and $12 for firm 2) are located at each end of a street of length 1. Consumers are uniformly distributed along this street and incur transportation costs TC = x2, where x is the distan..
A current highway project is estimated to have an average of $1,000,000 in annual maintenance costs upon completion. What is the capitalized equivalent of the perpetual annual maintenance costs for an account earning 6% annual interest?
while average labor productivity increases at the same rate as it did during 1960-2009. Under this scenario, what would be the net change in real GDP per person between 2009 and 2058?
Schmeckt Gut plans to introduce the Schmeckt Besser energy bar on the market. 1-In your own words, what is the importance of the topic ‘Elasticities’ for this undertaking? Explain this to the Board of Schmeckt Gut. 2- What do you suggest the Board in..
Consider a monopolist with demand curve P= 100-Q/2 . The total cost of production is 10Q + 1500 for positive ouput and 500 if it shuts down production. Illustrate what is the maximum profit the monopolist can earn (assuming no possibility of price..
How many of you are familiar with the term 'rent seeking'? This is when a company, organization or individual uses THEIR own resources to obtain an economic gain from others without reciprocating any benefits back to society through wealth creation. ..
Milton Friedman said the free markets are a necessary but not sufficient conidtion for political freedom. Which of the following events would support Milton's hypothesis?
The U.S. cigarette industry has negotiated with Congress and government agencies to settle liability claims against it. Illustrate what effect will this have on its optimal price.
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