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Mortal hazard problem and adverse selection problem
Place an 'M' beside the items in the following list that describe a mortal hazard problem and an 'A' beside those that describe an adverse selection problem:
a. A person with a terminally illness buys several life insurance policies through the email.b. A person drives carelessly because he or she has automobile insurance.c. A person who intends to "torch" his warehouse takes out large fire insurance policy.d. A professional athlete who has a guaranteed contract fails to stay in shape during the off-season.e. A woman who anticipates having a large family takes a job with a firm that offers exceptional child care benefits.
How does an active fiscal policy helps or hinder long-run growth in the economy.
You have been hired to work with a resort owner in Northern Minnesota. This resort owner runs a very small operation catering to mostly people who like to fish.
Taxi fares in New York recently were increased by nearly 50%. Predict the effect on the price of taxicab medallions, the earnings of taxicab drivers and congestion in New York streets.
Suppose DJIA records the changes in prices of 4 stocks. Suppose initially the prices of these stocks are $40. $20, $60. and $80. What is the DJIA.
Use the expenditure approach to comput GDP. Use the income approach to calculate GDP.
Currently, the extent of our economic difficulties has caused the economic policymakers to choose fiscal and monetary policies that are both expansionary.
Problem based on Utility Function - Problem, Answer and explain the following using a diagram which is completely labeled.
Suppose that natural real GDP is constant. For every 1 percent increase in the rate of inflation above its expected level, firms are willing to increase real GDP by 2 percent.
Show how to find equilibrium in an RC model? What is the relationship between the marginal rate of substitution between leisure and labor and the marginal product of labor in the RC model.
The BLS estimates that in 2002, the number of working-age adults was 211.9 million, labour force was 141.8 million, and the total number of employed was 135.1 million. Calculate the following:
Make an example of a comparative advantage model by 'choosing two countries and two products.
Describe the neoclassical theory of economic growth. Then explain how the neoclassical theory is impacted by research about endogenous technological changes and increasing marginal returns.
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