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Suppose the real GDP of an economy is $480 billion dollars and its unemployment rate is 7%. If the natural rate of unemployment is estimated at 4%, what is the value of the country's potential GDP (LAS) in billions of dollars?
A) Why has Uber cut prices substantially? ($500) B) What assumptions has Uber made about price elasticity of demand among its customers? ($500) C) If customer demand is price inelastic, will total revenue rise or fall? Explain your answer in 1-2 sent..
Suppose a consumer's level of satisfaction is given by AB2 and he/she has a total of $10 to spend on goods A and B. If the price of A is $1 and the price of B is $2, and assuming you can only purchase whole units (not fractional) of A and B, how many..
Charlie has a utility function U(A, B) = A2 B3 , the price of apples is $3, and the price of bananas is $2. If Charlie’s income were $120, how many units of apples would he consume if he chose the bundle that maximized his utility subject to his budg..
Most threats to ____ are taken care of by the experiments design, while most threats to _____ need to be take care of by the designer of the experiment. which of the following would be found in the literature review section
A 10-year, 11.00%, $1,000 bond that pays dividends quarterly can be purchased for $920. This means that $920 is spent on the bond now. Every quarter, $27.50 is provided to the purchaser as the dividend. After 10 years, $1,000 is given to the purchase..
When we talk about Hayek as an economist, how should we value his ideas and theories? Are his and his followers' theories really be like: no government
q. assume that the feds inflation target is 2 percent potential output growth is 3.5 percent as well as velocity is a
What is the four-firm concentration ratio (CR4)? What is the Herfindahl-Hirschman Index (HHI)? How do these two measurements differ? How are they similar? Calculate the CR4 and the HHI for the following two situations:
Cigarettes currently sell for $10 a pack. Suppose the government imposes both a $4 sales tax and a $7 excise subsidy on cigarettes. Use a graph to demonstrate that the new price must be somewhere between $3 and $6 a pack.
Illustrate the effect on the marketplace for a hr. of babysitting services 30 yrs into the future when children born today.
Lisa plans to retire on her 61st birthday. On her 22nd birthday, Lisa will start savin $A per year for 40 years. Starting on her 62nd birthday, Lisa plans on withdrawing $10000 and will continue these annual with drawls until the account is exhausted..
In the summer of 2008, the price of gasoline increased to a little over $4.00 per gallon. Americans did not drive appreciably less for the few months
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