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Maria borrowed $6440 to purchase a used car. The total amount she will need to pay includes the $6440 she borrowed, $2208 interest, and $230 loan fees. What is the finance charge on Maria's loan? (Round answers to 0 decimal places, e.g. 5,275.)
Assume that the market for beef is described by the following two equations: Q = -150 + 150*P and Q = 1200 – 120*P, where Q represents quantity and P represents price. The government institutes a $3 price ceiling in this market. With the new rule ful..
Show the effect of a small increase in the interest rate on the intertemporal budget constraint. Assuming standard preferences for current and future consumption (as shown in Figure 11.4), what will be the effect of the increase in r on the savings r..
Chief Executive Officer (CEO) Pay There are several possible methods for determining the pay of CEOs in large corporations.
Suppose the supply of labor is given by LS = 10w , where LS is the quantity of in millions of persons employed each year, and w is the wage rate in dollars per hour. The demand for labor is given by LD = 80 - 10w. What will be the free-market wage r..
A typical family in an island economy consumes only orange, mango, and cloth. The base period is year 1. Prices in the base period are $2 per pound for orange, $3 per pound for mango, and $5 per pound for cloth. Calculate the economy's Consumer Price..
Briefly discuss Marx's concept of fictitious capital. Give an example and explain in what way it can be considered to be fictitious
How would you engage in arbitrage to profit from these three rates? What is the profit for each dollar used initially?
The economist Bryan caplan recently found a pair of $10 arch supports that saved him from major foot surgery. He stated he would have been willing to pay $100,000 to fix his foot problemm, but instead he paid only a few dollars. How much consumer sur..
"The roots of both modern global economic prosperity and poverty (the so-called GreatDivergence) are in the Industrial Revolution that began in the late 18th century." Discuss
How do discount bonds behave? How do premium bonds behave? What is the nature of the returns from discount bonds vs. those from premium bonds?
During the mortgage crisis the destabilizing effects of defaulting mortgages quickly spread throughout the financial system because those mortgages were involved in widespread securitization. What is securitization?
If she pays $10 for a slab of ribs and $5 for a fried chicken meal, use the Lagrange method to find her optimal bundle. Draw a graph complete
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