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What is the law of supply? Illustrate the underlying relationship of this law graphically. Discuss the non-price determinants of supply.Give an example for a decrease in supply.
Assume that a state government currently provides no child-care subsidies to working single parents, but that it now wants to adopt a plan that will encourage labor force participation among single parents.
Suppose that Third National Bank has reserves of $20,000 and checkable deposits of $200,000. The reserve ratio is 10 percent. The bank sells $15,000 in securities to the Federal Reserve Bank in its district, receiving a $15,000 increase in reserves i..
Suppose the Japanese yen price of one British pound is 163.78 yen for each pound. In which city hotel room is cheaper and by how much.
A no production economy has 2 consumers (A and B) who each consume two different goods (x and y). Person A is endowed with (120,270) and has a utility function Ua(Xa,Ya)=X^(2/3)Y^(1/3). The initial endowment, the IC that go through the initial endowm..
The World of Videos operates a retail store that rents movie videos. For each of the last 10 years, World of Videos has consistently earned profits exceeding $42,000 per year. What is the opportunity cost of using the unused portion of the building f..
How do entities determine their fiscal period? Give an example. How would you define a highly leveraged company? What ratio would you use to determine this? Tell me one thing you learned from the guest lecture, and how do you think it may be useful f..
Suppose that a certain manufacturer has a monopoly on the sorority and fraternity ring business (a constant-cost industry) because it has persuaded the “Greeks” to give it exclusive rights to their insignia. Using demand and cost curves, draw a diagr..
Explain how you were to learn that a bottle of Gatorade rise in size from 2009 to 2010, should that information affect your calculation of the inflation rate.
The city of Touristburg has implemented a lodging tax equal to 2% of gross revenue at local hotels. If you stay in a hotel that costs $250 per night for 3 nights, how much will you pay in lodging taxes? The city of Touristburg estimates the annual gr..
Consider the demand for hamburgers. If the price of a substitute good (for example, hot dogs) increases and the price of a complement good (for example, hamburger buns) increases, can you tell for sure what will happen to the demand for hamburgers? W..
Calculate the equilibrium interest rate by setting the demand for central bank money equal to the supply of central bank money.
Describe return to an investment in a college education. How would you go about measuring it. How would you decide it is good enough to warrant investment.
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