Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
During the late 1980' and early 1990's, economic reforms initiated by Soviet President Mikhail Gorbachev began to raise consumer incomes; but the Soviet government continued to impose price ceilings on basic goods like food, clothing and household goods. As a result, there were severe shortages of many goods and longs lines at all kinds of stores became common. Then, in January of 1992, the new Russian government, under President Boris Yeltsin, removed retail price controls on most goods. Within a month, prices more than doubled on the average and lines disappeared. Analyze these events using the supply and demand model. First draw a supply and demand diagram for some common good,; i.e., butter, showing the market in equilibrium before the beginning of Gorbachev's reforms. Next, use the shifts of appropriate curves to show why the combination of rising incomes plus price ceilings produced shortages and lines.
Suppose in a random sample of 353 grad student teachers, the correlation between annual salary increases and teaching evaluations is found to be 0.11. Test at the 5% significance level , the null hypothesis that the quantities are uncorrelated.
A university planner wants to determine the proportion of spring semester students who will attend summer school. She surveys 32 current students discovering that 12 will return for summer school.
Consider an economy that produces only two goods: fresh apricots and dried apricots. In this economy, the technology of producing dried apricots is to place fresh apricots on special racks and allow them to dry in the sun. Fannie's Farms is the on..
An investor bought a tax-free provincial bond, at a cost of $1000 which will pay $50 interest each year for 20 years. The bond will mature in 20 years and return the original $1000. If there is a 2% annual inflation during this period, what real r..
Michael Illitch bought the Detroit Tigers in 1992 for $82 million, which amounted to $114.15 million in 2005 dollars. By 2005, the Tigers were worth $292 million. Calculate the real compound annual rate of return on that investment.
A Honda Accord sells for $28,000 in the United States and for SF35,520 in Switzerland. Given an exchange rate of SF1.25 = $1, how do the car prices of both countries compare
The following information shows labor productivity (output per day) in the countries of Alpha and Beta: Alpha 3 computers 15 shirts Beta 2 computers 6 shirts Answer these questions: (a) Which country has a comparative advantage in the production of c..
Firm z, operating in a perfectly competitive market, can sell as much or as little as it wants of a good at a price of $16 per unit. Its cost function is C = 50 + 4Q +2Q^2. The associated marginal cost is MC = 4 +4Q, and the point of minimum avera..
Suppose a natural monopolist has fixed costs of $24 and a constant marginal cost of $2. The demand for the product is as follows: Price (per unit) $10 $9 $8 $7 $6 $5 $4 $3 $2 $1 Quantity demanded (units per day) 0 2 4 6 8 10 12 14 16 18
at a price of $1 each, 200 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $1 to $2 is unit-elastic (Es = 1). In the long run, a price increase from $1 to $2..
Many retirement funds charge and administrative fee equal to 0.25% on managed assets. Suppose that Alexx and Spenser each invest $5,000 in the same stock this year. Alexx invests directly and earns 5% a year. Spenser uses a retirement fund and ear..
Wilpen Corporation, a price-setting form, manufactures nearly 80% of all tennis balls purchased in the United States. Wilpen estimates the U.S. demand for its tennis balls by using the linear specifications:
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd