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Question
In November 1995 the MTA raised the price for a single ride in the NYC subway and bus system from $1.25 to $1.50. A New York Times article published in February 1996, reported that in the month of December 1995, which was the first month after the price increase, subway ridership fell by 4.3%, while bus ridership fell by 11%. (a) On the basis of this information, what was the elasticity of demand for the NYC subway in 1995 and what was the elasticity of demand for the NYC buses in 1995?
1. Say that in 1964 a country had a labor force participation rate of 60% and by 2014 it fell to 50%. Also, assume that over this time labor productivity grew by 2% a year. How much did income per person change?
Describe the growth of the economic role of the federal government since the 1930s. Give two examples of public goods or services that you use. If you could order a cut of $100 billion in federal spending, which programs would you cut and why would y..
Review the following articles and documents. Then question need tp be answered below:
Although rising oil prices may hurt the United States economy in the short run, they will ultimately benefit the economy by encouraging the development of alter
You are a manager for Herman Miller-a major manufacturer of office furniture. You recently hired an economist to work with engineering and operations experts
Consider an expansionary open market operation. Suppose the Federal Reserve buys government securities from the nonbank public.
Assume you are compiling your research report. How would you present the statistical information within this case to the IndustryWeek decision maker, the manager who must decide whether or not to continue to publish reader service cards?
As a savings plan for college, the Smithfield's deposited $15,000 in an account paying 6% compounded annually when their daughter Mary was born. How much will the account be worth when Mary is 18 years old?
What is the Present Value for $15,000 in 30 years at discount rate of 12%?
The utility function U(X1,X2)=X1^a + 2X2^b. Corresponds to preferences for perfect substitutes. All ordinary (non-Giffen) goods are also normal goods. (Hint: Use the Slutsky equation to support your answer) If consumer consumes only two goods, both o..
Are the same local content rules applicable to renewables as it is to fossil fuels (oil and gas).
Consider a simple two country two good framework in the context of the Ricardian Model. Show using a simple numerical example, how, when two countries
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