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a. What do "Keynesians" believe caused the Great Depression?
b. What do "monetarists" believe caused the Great Depression?
c. Are these explanations mutually exclusive?
d. Why are macroeconomists so interested in explaining the causes of the Great Depression?
All costs are given in thousands of dollars and negligible salvage values are assumed at the end of a 50-year life. Using a social interest rate of 8% in the Benefit/Cost analysis, determine which project(s) should be selected if the alternatives ..
Assume Nail Mania advertises in the local newspaper. Each day it advertises costs $100. Over the past several months, Nail Mania has conducted market research and developed the following information Number of days advertised per week Number of cust..
Consider an economy that produces only two goods: fresh apricots and dried apricots. In this economy, the technology of producing dried apricots is to place fresh apricots on special racks and allow them to dry in the sun. Fannie's Farms is the on..
A perfectly competitive firm faces a market price of $10 for its output X. It owns two plants A and B whose total costs are: TCA = 10 + 2X + .25X2 TCB = 15 + .4X + .1X2 = 15 +4 + 10 How many units should each plant produce to maximize profit at that ..
Derive the constrained MLEs for the µk and Σ. Show that the Bayes classification rule is equivalent to classifying in the reduced subspace computed by LDA (Hastie and Tibshirani 1996).
What are the components of aggregate expenditures?
there are 51 market participants: 25 of them are producers, where producer i can produce at most one unit of a good at cost i $; 25 of them are consumers, where consumer j is willing to buy at most 1 unit of the good for at most j $; the 51st mark..
Suppose now that the cost of capital in the previous question rises to $3 per unit. Graph the new long-run average cost curve, and compare its position with the curve in that question.
An investor with assets of 10,000 has an opportunity to invest 5000 in a venture that is equally likely to pay either 15,000 or nothing. The investors utility function can be described by the log utility function U(x)=ln(x), where x is his total w..
Because wage rates are so low in Africa, why don't Microsoft, Cisco and other major corporations close down their American operations and move to Africa?
Suppose that First Bank has $34 million in checkable deposits, Second Bank has $47 million in checkable deposits, and the reserve requirements for checkable deposit is 10%.
ECON10132/ECON20292 Further Statistics. The tensile quality of a steel billet can be measured by its α- content. Define a suitable discrete random variable to represent the price of a tonne of steel
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