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By the numbers . Look at the budget for the United States for the last 20 years and find the amount going each year to income support. How has it changed? Separate that amount into Social Security, Medicare/Medicaid, and other. What are the fast growing parts of income support?
The following table gives average hourly nominal wages in nonagricultural industries and the price level in the United States from 1995 to 2002.
Based on the market research, a recording company obtains the following information about the demand and production costs of its new CD: Price= 1,000-10Q Total Revenue=1,000Q-10Q squared Marginal revenue= 1,000-20Q Marginal Cost= 100+10Q
Is the ATC sloping up or down at the current equilibrium? [Hint: is the MC above or below the ATC at the chosen output?]
If the Canadian production function is Cobb-Douglas with capital's share in total output 0.3, output growth is 3 percent per year, depreciation is 4 percent per year, and the capital-output ratio is 2.5,
(a) If full employment occurs at real output of $880, how large is the real GDP gap (b) How large is the AD shortfall ( c) What will happen to the price if AD increases enough to restore full employment Inflation (d) Assuming MPC=0.75, how will macro..
Suppose the marginal benefit of writing a contract is $100, independent of its length. Find the optimal contract length when the marginal cost of writing a contract of length L is: a. MC(L) = 30 + 4L. b. MC(L) = 40 + 5L.
Assume they they buy if price exactly equals to willingness to pay. The monopolist can produce the good at a constant marginal cost 3. a. describe efficient allocation of the good b. describe the profit-maximizing price when no price discrimination ..
Suppose the Fed buys $100 million Euros with Federal Reserve Notes and, at the same time, sells $100 million of U.S. government securities for cash in a domestic open market operation.
The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year they sold 4000 of these skateboards. The company bellieves that the price elasticity for this product is about -2.5.
Each acre can support 10 banana trees. However the 3 acres differ in their ability to support mango trees. She can grow 30 mango trees on the best land, 20 mango trees on the good land, and 10 mango trees on the bad land.
Assume the demand function for basketballs is given by QD = 150 - 3P + 0.1I, where P = price of a basketball and I = average income of consumers. Also, assume the supply of basketballs is given by QS =2P. If the market for basketballs is perfectly..
Perform a Durbin-Wu-Hausman test to evaluate whether ASVABC appears to be subject to measurement error.
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