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Question: In October 2001, Barry Bonds of the San Francisco Giants hit his record-setting 700th home run. After fan Alex Popov caught the ball, another fan, Patrick Hayashi, bumped him and grabbed the ball when he dropped it. The ball ultimately sold for $450,000 and Popov and Hayashi went to court, where they were ordered to split the money. If you were interested in efficiency, how would you decide the case? Why, if at all, would your exact decision matter?
In a market economy there are two types of goods being produced: public and private goods. After reading the assigned chapters, what is the difference between a public and a private good?
List the four major areas (audience analysis; objectives and budget; issues; and research) and explain how an organization designs a program around these four influences.
Discuss how banks make money, and are structured in respect to Asset, Liability and Capital Management - give examples.
Please state and explain your decision in a one-page summary. Make sure to include a title page. In your summary, be sure to reference course material (readings, lectures, or concepts from the flash cards).
John Taylor of Stanford University proposed the following monetary policy rule: R_t-r ¯=m ¯(π_t-π ¯ )+n ¯Y ~_t. That is, Taylor suggests that monetary policy should increase the real interest rate whenever output exceeds potential.
Another group of economists, those who hold to the quantity theory of money, believe that V (the velocity of money) is predictable and otherwise unchangeable and that Q (the quantity of goods and services produced) is steady. Is their view of the eco..
What is isoquants and at what point an isoquants are economically efficient?
Discuss why the government would implement a program to lower the price of a good and the welfare effects of such a program. Give an example of good for which such a policy has been implemented and explain the purpose of the policy.
During the recession in the early 1990s, retailers observed that consumers were spending a lot more time searching for good bargains than ever before, which led the retailers to lower prices.
Perfectly competitive firm, a monopolist that is confronted with fixed costs in the short run should produce versus shut down if the total revenue that it can generate is sufficient to cover
Suppose the Tampa Bay Rays baseball team charges $10 bleacher seats and sells 250,000 of them over the course of the season. The next season, the Rays intends to increase the price to $12 and sell 200,000 tickets.k- what is the elacticity of dema..
Compute the sample autocorrelation function for personal disposable income (Yt) for m = 13 lags. Plot the sample correlogram. Repeat for the ?rst-differenced series (ΔYt).
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