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Deer have become increasingly apparent in a rural county. Last year it was estimated that there were 40 breeding pairs (a deer must reach the age of 1 to breed). A pair of deer produce an average of 1 fawn per year, and 80% of these fawns grow to reach 1 year of age. 10% of adult deer die of natural causes each year. An average of 5 adult deer are killed annually in highway accidents, and 2 per year in illegal hunting. Use difference equations to estimate the population of deer. Do you think it is likely that the deer population in the county is increasing? Will the deer population eventually reach equilibrium?
Monetary policy is clearly superior to fiscal policy in that it suffers less from..
A city has decided to build a softball complex and the city council has already voted to fund the project at the level of $800,000 (initial capital equipment). The city engineer has collected the following financial information for the complex projec..
Provide two examples of actions taken by a company, government, or organization whose effect is to prevent specific markets from reaching equilibrium. Illustrate what evidence of excess supply or excess demand can you cite in these examples.
Suppose your retirement account has a balance today of $25000 and you are 20 years old. If you are invested in a diversified portfolio of stocks, you might hope that the historical return of about 6% continues into the future. Plot your retirement ac..
A study finds that leaf blowers make too much noise, so the government imposes a $10 tax on the sale of every unit to correct for the social cost of the noise pollution. The tax completely internalizes the externality. Before the corrective tax, Blow..
Which type of industries would make the most use of short-range forecasts? Which would make the most use of medium-range forecasts? Which would make the most use of long-range forecasts? Why?
How to calculate the elasticity coefficient between each of the seven prices and indicate whether the character of demand is Elastic.
Suppose that the life length of a component is normally distributed with standard deviation equal to 10 (days). If the component has a reliability of 0.99 for an operation period of 100 (days), what should its expected life length be?
General Electric paid its line workers $10 per hour last year when the Consumer Price Index was 100. Suppose over the past year that deflation occurred and the aggregate price level fell to 80. GE must pay its workers $ this year in order to keep the..
Below are three parcels of real property A, B and C. B wants to have a built-in swimming pool installed in his backyard. In order to run the water line directly from the main in the street to the site, the line must run over his neighbor’s property. ..
Two similar surgeries, breast reconstruction and breast augmentation, have different prices. Breast augmentation is cosmetic surgery not covered by health insurance. Patients who want the surgery must pay for it themselves.
If the price level increases, the real value of household money holdings falls. This will result in a downward shift of aggregate expenditures and a leftward shift of the aggregate demand curve.
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