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Perfect competition usually excludes government, but does not have to. What assump-tions are required to exclude government? Hint: reflect on the concepts of market failure, and the comparative productivity of private and state activities.
Would a ?rm from a small country be more or less likely to be accused of dumping when it exports to a large country (relative to a ?rm from the large country export- ing to the small country)?
The price of basketballs is $90, the wage rate is $5, and the rental rate for capital is $10. What is the short-run profit maximizing level of labor demand if capital is fixed at 40 units What are the long-run profit maximizing levels.
Assume a normal random variable x, with mean 100 and standard deviation 20. a. Find the probability that a randomly chosen value of x is less than 95. b. Find the probability that a randomly chosen value of x is between 60 and 100. c. Find the 95th p..
This Christmas, you decide to buy your true love a partridge in a pear tree. After consulting with several garden centers, you make your purchase by writing a check for $150. The garden center promptly deposits your check in its bank.
According to rational expectations theory, how will this policy affect the Fed's ability to move the real economy (e.g., the unemployment rate)?
Calculate a new consumer price index for the data in the following exhibit. Assume that current-year prices of twinkies, fuel oil and cable tv are $0.95/package, $1.25/gallon, and $15.00/month, respectively.
Recently, a university surveyed recent graduates of the English Department for their starting salaries. Four hundred graduates returned the survey. The average salary was $25,000 with a standard deviation of $2,500. What is the best point estimate..
Create a Laspeyres price index using June as the base period (that is, use Arnold's consumption bundle for June to create the fixed weights). How did his cost of living change according to this measure?
Prove Theorem 7.2, paying particular attention to constructing feasible variations that ensure x(t1, ε) = x1 for all ε in some neighborhood of 0. What happens if there are no such feasible variations?
Suppose that congress passed a law requiring employers to provide employees full benefit of health care. What will happen to the labor market? Are you in favor of this law?
Does the experience of Latin American countries in the 1990s support or refute the Fisher hypothesis? Explain.
In an equation for annual data, suppose that: unempt = 2.7 - .68 inft - .25 inft-1 + .33 inft-2 + ut, where unempt is an unemployment rate at time t and inft is the inflation rate. What are the impact and long-run propensities
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