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Jane has 3 liters of drinks and 9 sandwiches. Bob on the other hand has 8 liters of drinks and 4 sandwiches. With these endowments, Jane’s MRS DS is 4 and Bob’s MRS DS is equal to 2.
1.Draw an Edgeworth box diagram to show whether this allocation of resource is efficient.
2.If it is explain why.
3.If it is not what exchanges will make both parties better off
List out the distinct characteristics of a perfectly competitive labor market and compare them to the characteristics of monopsony.
A brief look at Viet Nam's banking system, including its development, the role of the central bank, the currency, and the central bank’s influence on the level of prices. Interaction of the monetary system with the government’s fiscal policy, includi..
Illustrate what are elements of Circular-Flow Diagram. Illustrate what concepts does diagram illustrate.
Some economists argue that it is easier to resolve demand-pull inflation than it is cost-push inflation. Use the aggregate demand and aggregate supply model to explain this assertion.
To increase tax revenue, the US government in 1932 imposed a two-cent tax on checks written on deposits in bank accounts (In today’s dollars, this tax was about 25 cents per checks) Use the model of the money supply under fractional-reserve banking t..
Describe a situation that would call for applying one or more of any (dynamic economic model/legit model/random walk model/spurious regression/co integrated time series/tests of stationary). Explain your rationale for applying the model you chose.
Suppose that Taher's pizza business operates under competitive conditions and that his short-run production function is q=20^E. How much labor does he employ if the price of each pizza is p = $12 and the hourly wage is w0 = $6? [Hint: In this case, i..
Suppose that in a closed economy GDP = $12,000, Consumption = $8,000, and Government Purchases = $3,000, and Net Taxes = $2,000. 25.1. Refer to the scenario above. Calculate the value of disposable income. $ 10,000 Please enter a whole number, with n..
When referring to the question of whether the experimental stimulus made some difference in the specific instance under investigation, one is referring to: When referring to the question as to what populations and settings can the observed effect be ..
Suppose that the price per unit of input A is 8 euros and the price per unit of input B is 5 euros. What is the minimum cost of producing 100 units of output Y for the firm if the firm’s production function is Y = 4A + B/5
Graph the budget constraints facing each of the three families and discuss a possible indifference curve which could correspond to the choice each family makes.
How would you go about activating various influencers of policy in the era of technology and social media, i.e. lobbyist, the media, public opinion, interest groups?
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