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1. How do economists use GDP to measure various aspects of the economy?
2. What is the cause of inflation? What does inflation do to the purchasing power of money?
3. In his song "Allentown," Billy Joel sings about the demise of the steel and coal industry in Pennsylvania. Why do you think the loss of manufacturing jobs was so difficult on the workers in areas like Allentown and other parts of the Midwest where manufacturing was once the largest employer? What type of unemployment is the song about?
What are the five characteristics of a good tax system?
Is the equilibrium level of income higher or lower than it was in problem 1( a )? Calculate the new equilibrium level, Y , to verify this.
PC Connection and CDW are two online retailers that compete in an internet market for digital cameras. While the products they sell are similar, the firms attempt to differentiate themselves through their service policies.
(Amounts on the balance sheet are in millions of dollars.) Assets - Reserves $15.90 Loans $150.00 Securities $34.10 Total - $200.00 Liabilities + Capital - Transactions deposits $180.00 Equity capital $20.00 Total - $200.0 Calculate the bank's exc..
What is meant by economies of scale?
Assume an economy with 1000 consumers. Each consumer has income in the current period of 50 units and future income of 60 units and pays a lump-sum tax of 10 in the current period and 20 units in the future period.
Two equal-sized newspapers have overlap circulation of 10% (10% of the subscribers subscribe to both newspapers). Advertisers are willing to pay $10 to advertise in one newspaper but only $19 to advertise in both, because they're unwilling to pay ..
b) Using a method similar to the consumer price index, compute the percentage change in the overall price level. c) If you were to learn that a bottle of Gatorade increased in size from 2009 to 2010, should that information affect your calculation..
Joe's Barber Shop has a daily total cost function of TC = 100+ 4Q + Q2 and the daily demand for his services is Q = 50 - 2P What is the profit maximizing price that Joe should charge for his services
Now suppose that the manager of the Three Peaks increases the number the newspaper ads to 80 per week. Examine the effect of this change on the price elasticity of demand for lift tickets. Should the Three Peaks lower its price while increasing it..
Suppose the production function of the economy takes only capital as input and follows the formula: Y = zKWith saving rate s, deprectiation rate d and population growth rate n, write down an equation that determines capital stock next period
Who are your top 2 global competitors in the market?
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