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The Publishers Clearing House is awarding a prize of $5000/week for the rest of your life that can then be transferred to someone you nominate (and so on). How much does the Publishers Clearing House has to deposit now (P) if yearly interest (APR = nominal rate) is 3% per year?
Most large firms have personnel departments responsible for setting specific rates of pay for each job. In performing this function, how much discretion does the personnel department have in terms of the rates it sets? To what extent do outside marke..
Calculate the (1) unemployment rate, (2) labor force participation rate, (3) adult population and (4) the total population for the small town with the following statistics: employed = 1,000, labor force = 1,400, Not in the Labor Force = 1,000 and min..
"The government is considering imposing taxes on the sellers of certain classes of products. The first tax they are considering is a tax on 2% milk. The second is a tax on all dairy products. Since food is a necessity, would it see the higher sticker..
Find Equilibrium GDP (Y). If potential GDP is 1950, is the economy in a recessionary or inflationary gap. Suppose that the MPC, falls to 0.75, so C = 0.85DI. Find Equilibrium GDP.
If a person can either fish or chop coconuts for subsistence, what does production look like.
A key determinant of the price elasticity of supply is the:
What do Card and Krueger find regarding the effects of increasing the minimum wage on employment? What is a possible problem with the study? Tell me an economic story that would explain their results.
Why does the government intervene in the economy? Should they and what would the impact be if they did not?
Consider a consumer that only purchases two goods to maximize his/her satisfaction. He/she originally maximized his/her satisfaction, and suddenly his/her income decreased. Assume that good 1 is inferior and good 2 is normal. What are the implication..
Suppose you have the following demand and supply schedules: Qd = 900-10p+2Y and Qs= -50+25P where Qd and Qs are quantity demanded and supplied, respectively, Y is average income (in 1000s) in the area and P is the price of the good. Suppose Y=50. Fin..
The impact of a budget deficit is: State and local governments issue ____ bonds that offer tax advantages, so they typically have _____ interest rates than bonds issued by the federal government and corporations.
Nevertheless your total unit sales have increased over this period. Assuming rational buyers and no deceptive advertising, how can you account for this.
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