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Show the effect on wages, employment, and output of open immigration from poorer countries if there are no restrictions on employment in either sector.
Calculate the deadweight loss from the tax. Could the tax be justified despite the deadweight loss? What tax revenue will be generated?
Are we, as a nation, insincere in our commitment to democratic rights and equality? How does Arthur Okun resolve this seeming contradiction?
Ron's Hamburger Joint is the only restaurant in town. The above figure represents Ron's cost, the market demand, and marginal revenue curves. Ron operates as a single monopoly.
with demands Q1 = 800 - 0.2p, Q2 = 400 - p, and Q3 = 700 - 0.4p respectively. Find the optimal price- quantity each market if the firm is able to price-discriminate.
If instead the Fed wants to stabilize aggregate demand, how should it change the money supply?f it wants to accomplish this change in the money supply using open-market operations, what should i
Forecast Accuweather's mercury needs for January, April, July, September, and December of 2007. What seasonal adjustment factor should them firm use for November?
while the marginal utility of the last cup of tea she had was 7. If the price of the tea is $0.70 per cup, what is the price of a cup of coffee?
They just booked their European vacation because of the dollar's high value. Why do Caterpillar and your parents have different opinions about the value of the dollar?
The current expected inflation rate is last period's actual inflation rate. Show in a diagram the path than real aggregate output and the inflation rate take over time.
Why the average price of a good falls during periods of high demand. What does this tell us about data and its use in decision making?
Let w denote price of the labour services. If the firm is required to produce 5 units of output, for what values of w would a cost-minimizing firm use?
Each of the estimated coefficientis statistically significant at the 95 per cent confidence interval. What is the optimal output level?
Derive the fundamental equation of the Solow model. What is the per-worker production function, y = f(k)? Country A and country B both have the production function.
What will the new equilibrium output rate be? Explain what happened to the profit maximizing output rate when input prices were increased
At the same time, economic experiments show that most people will opt to take $100 in ten years over $50 in nine years. Is such behavior rational? Explain why or why not.
Find the equilibrium price and quantity in the absence of government intervention. Suppose the government imposes a price ceiling of $3 per unit. How much is supplied?
suppose that household consumption decision suddenly become less sensitive to change in the rate of interest. How would this affect the slope and position of the IS curve?
Proposed policy in the upcoming election. How many people should be sampled so that the sampling error is at most 0.04 with a 95% confidence interval?
Compute potter's budgeted cash receipts for the quarter. Discuss problems potter might encounter in obtaining short-term financing.
Suppose that a borrower and a lender agree on the nominal interest rate to be paid on a loan. Then inflation turns out to be higher than they both expected. Is the real interest rate on this loan hi
In deciding whether to implement the policy, how, if at all, should the likely effects of the policy on real GDP be taken into account? Discuss.
If farmers want to earn a normal profit of $10 per acre, what is the most that any farmer would pay to rent your 10 acres? $ What if the price of wheat rose to $6 per bushel.
A firm with market power has an individual consumer demand of Q = 20 - 4P and costs of C = 4Q. What is optimal price to charge for a block of 20 units? A. $18 B. $36 C. $72 D. $90.
Determine the equilibrium prices charged by the two firms, and their equilibrium profit levels. If the firms do not make the same profit, verbally describe why this is the case.