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1. Suppose that the Bank of Canada raises the interest rate at which the average household can borrow and lend. Assume that the typical household behaves according to Irving Fisher's two-period model, that consumption in both periods is a normal good, and that households are initially borrowers. Illustrate graphically how the increase in the interest rate in period one affects consumption in both periods.
2.a. What is "consumption smoothing"? Explain what key role "consumption smoothing" plays in the life-cycle hypothesis and the permanent-income hypothesis?
b. Assume you are a twenty-five year old who expects to work for 40 years and then enjoy 30 years of retirement. If you behave according to the life-cycle/permanent-income hypothesis, how would your current consumption change if:
1. You win $1,000,000 in the lottery this year.2. You expect to get a $1,000,000 "signing bonus" when you get a job next year
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The percentage analysis of changes of corresponding items in comparative financial statements is referred to as horizontal analysis. A. True B. Fals
Workout Expenditures Professional fees (legal, accounting, appraisal) paid to entities unaffiliated with the investment company's advisor or sponsor in connection with any of t
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how we prepare ledger account and trial balance?
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1. Shaving 5% of the estimated direct labor hours in the predetermined overhead rate will result a high overhead rate, which would likely result a high credit balance of overapplie
twhat is debit?
Define Carriage outwards.
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