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An economist researching the market for tea. What does Qt = f(Pt, Y, A, N, Pc) mean in words? Identify the dependent and independent variables.
A monopoly sells 30 units of output when price is £12 and 40 units when price is £10. What domain restrictions would you put on this demand function?
In macroeconomics the average propensity to consume. Explain why APC will always be greater than MPC if C = 400 + 0.5Y.
What is the slope of the budget constraint if quantity of A is measured on the horizontal axis? What happens to this slope if both prices double?
Why does the PPP condition imply a rise or a fall in the exchange rate? Explain your answer.
If interest rates in India rise relative to interest rates around the world, how does this affect the world value of the rupee?
Describe the numerical effects on both the U.S. current and capital accounts from each of these examples.
If the actual price in Turkey costs more lira than the answer you found in part (b), how might you account for the discrepancy?
If you decide to exchange these pesos for dollars, does your action shift the supply of pesos?
Derive algebraic expressions for the amount of steel required; the amount of labour required and the amount of machine time required.
Write expressions for (a) the amount of petrol you use and (b) your expenditure on petrol.
Define your own algebraic symbols for relevant unknown quantities and then write expressions for.
Write an expression for the total cooking time (in hours) for your turkey in terms of its weight.
Derive an expression for the total cost of the meal, in pounds, if there are x adults and y children.
Write an expression for the firm's profit in terms of the number of units produced. Evaluate the expression (6x + 2y)y2 when x = 4.5 and y = 1.6.
Write an algebraic expression for the maximum annual percentage price increase for water and evaluate it for an inflation rate of 6% and a z factor of 3.
Write an expression for net monthly salary in terms of gross monthly salary (assumed to be greater than £450) and Evaluate it if gross monthly salary is £2,650.
Write an expression for the total cost of an order in terms of order size and simplify it. Assume order size is between 10 and 60 units.
Write an expression for the amount of space available for the cars of the workforce in terms of x if x is the planned capacity of the car park.
Write an expression for the firm's total expenditure on this input in terms of the total amount used and simplify.
Firm sells 40% of its output at £200 a unit, 30% at £180 and 30% at £150. Write expression for average revenue received on each unit sold and then simplify it.
You put in a claim for 420 miles travelled and receive an expenses payment of £105. What is the payment rate per mile?
What price were your shares sold at? What examination mark do you need to get to achieve an overall mark of 40%?
Your net monthly salary is £1,950. You know that National Insurance and pension contributions take 15% of your gross salary. What is your gross monthly salary?