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Question: What will happen in the market for wine if the price of cheese increases (wine and cheese are complements)? 2. What will happen in the market for brewed coffee if the price of coffee beans increases? 3. What will happen in the market for lobster if the government rises the income tax and lobsters are a normal good? 4. What will happen in the market for tomatoes if a new study is released that shows that pesticides used on tomatoes contain cancer forming agents. 5. A fall in airfares from UK has raised the demand for hotels rooms in St. Vincent. 6. Government grants a $1 subsidy on each bottle of milk produced. 7. Government collects a $2 sales tax on each bottle of rum.
In some countries there is a concern that the government will run large budget deficits and force the country's central bank to "monetize the deficit
Comment on whether the proposed program has any signaling value. Are there any other reasons for students to do these sorts of units?
With an interest rate of 10 percent this person uses $100 current income along with an $80 bank loan to finance $60 of education. Explain how this individual should respond if interest rate increases. Discuss income and substitution effects.
Assume mortgage payments of $1100 per month for 30 years and an interest rate of 0.5% per month. What initial principal or PW will this repay? Assume annual mortgage payments of $13,200 for 30 years and an interest rate of 6% per year. What initial p..
Eight calculators are chosen at random to be sent to a local high school. How many selections contain 3 defective?
Describe how each of the following differ with respect to the three common forms of business ownership, (Sole Proprietorship, Partnership, and Incorporation):
If the market price of suits is constant, illustrate what is the shutdown level of output. What is the minimum price the firm can accept.
Which of the subsequent is directly included in the calculation of the GDP?
What are the 4 basic microeconomic market structures. Also what is the difference between them?
Suppose that in a week the price of Greek yogurt increases from $1.25/lb to $1.75/lb. At the same time, the quantity of Greek yogurt supplied increases from 100,000 lbs to 180,000 lbs. What is the price elasticity of supply for Greek yogurt?
The annual income from a rented home is $24,000. The annual expenses are $6000. If the house can be sold for $245,000 at the end of 10 years, how much could you afford to pay for it now, if you considered 9% to be a suitable rate?
Explain in terms your parents would understand how mandating employer-paid insurance is likely to lead to a permanent loss of jobs for low-paid workers
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