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Once again consider a worker who has a utility function U = √ Y. In a good week he earns $25 and in a bad week he earns nothing. Good and bad weeks each have probabilities of 50%.
(a) What is his average or expected utility in numerical terms?
(b) Suppose the government enters the picture and requires him to contribute to an unemployment insurance scheme. He must pay $9 every time he has a good week. In return the government pays him $9 whenever he has a bad week. Compute his average or expected utility with the new insurance scheme in place.
given that Country X and Z both have the production function: Y=F(K,L)=(K.L)^1/2. Assume that neither countries experience population growth or technological progress, while 5% of capital depreciates each year.
what must the Bank of Canada have set the money supply at (b) Taking that level of the money supply as fixed, suppose nowthat people expect the Bank of Canada to raise the money supply by11% over the next year, what will be the new price level tod..
Suppose annual salaries for sales associates from a particular store have a mean of $32,500 and a standard deviation of $2,500. Calculate and interpret the z-score for a sales associate who makes $36000. Suppose that the distribution of annual sa..
An investor is interested in purchasing a new 20-year government bond carrying a 10 percent annual coupon rate with interest paid twice a year. The bond's current market price is $875 for a $1,000 par value instrument.
most customers tip according to a percentage rule between 15 and 25 percent of the bill.diners who have dinner and a $20 bottle of wine usually pay the same percentage of the bottle price as diners who order a $100 bottle.
Before Missy decides the discount policy, she needs a better understanding of the dollar-amount distribution of the mail orders she receives. Missy had an assistant randomly select 50 recent orders and record the value, to the nearest dollar, of e..
At present, the company can earn a maximum annual profit of $25,000 when it sells 10,000 copies within a year's time. The firm incurs a 50-cent expense each time a consumer downloads a copy, but the company must spend $100,000 per year.
What is the approximate after-tax IRR on a two-year project for which the first cost is $12,000, savings are $5000 in the first year and $10,000 in the second year, and taxes are at 40%
The firm believes that AVC varies with the level of output and wages. Alan Anderson, the economist in the research department of the firm, collects monthly data on output (the number of diskettes produced), average variable costs, and wage rates p..
Coolaire is the only firm producing a refrigerators. It costs $800 to produce a refrigerator, and coolaire sells each refrigerator for $1,200. Suppose, that a new firm, chillbox, enters the market for refrigerators.
Suppose that an economy has the Phillips curve p = p-1 - 0.5(u - u^n), and that the natural rate of unemployment is given by an average of the past two years' unemployment: u^n = 0.5(u-1 + u-2).
1. for the each of the following functions 1 find a function for an indifference curve that delivers uu? units of total
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