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They could each decide to work a few extra hours on Saturday and earn more income. But they choose to play tennis or to relax around the house. Are their opportunity costs of playing tennis differen
This will cause the average price of wine to increase to $12 and generate approximately $20 million in government revenue.
If no price controls had been in place, the effect of the oil embargo on the equilibrium price and quantity of gasoline would have been?
Using the equation in the text, what will be the growth rate of per capita income? In such a situation, under what circumstances might per capita income growth be increased?
Would the combined measures be likely to have any effect on the person's consumption of cigarettes? Why or why not?
Discuss the implications for classical trade optimism (the argument that free trade is always "a good thing") and for trade policy and practice.
Graph both the actual data and the forecast using the graphing tool. Does the forecast vary much from the actual data?
Draw a demand and supply graph illustrating these developments in the market for full-size pickup trucks. Be sure to indicate changes in the equilibrium price and quantity.
Discuss the cyclical behavior of aggregate investment and compare it with the volatility of aggregate consumption. Next, describe the different components of aggregate investment.
In this economy, compute private saving, public saving, and national saving. Find the new equilibrium interest rate.
Examine the impact of persistent budget deficits on the trade deficit and analyze the options available to policy makers when national savings presents opportunities to improve the trade deficit.
Explain why or why not each of these models would explain trade flows between the US and Canada: ricardo and 2-hecksher ohlin.
As the expected future spot rate moves closer to the spot rate, uncovered interest parity indicates that: interest rates should remain constant.
What is the probability a small car was involved? Assume that the likelihood of getting into an accident is independent of car size.
If the current annual interest rate is 10%, how much money do you need to have today to ensure that you will have $2,000 one year from today?
Draw a circular -flow diagram. Identify the parts of the model that correspond to the flow of goods and services and the flow of ringgit for each of the following activities.
How should we deal with these disturbing abuses of the patent system? Should the government buy back patents as your textbook discusses, or should it not issue them in the first place?
How many pumpkins should Steven have available for sale? Based on your answer to (a), what is the probability that Steven will be short five or more pumpkins?
If the annual increase is 5% and if the interest rate is 12%, determine the very first deposit she should make at the end of year 1.
Suppose the following data describes a nation's population: Unemployment rate 6 percent 6 percent. How many people are unemployed in each year?
A shirt company spends $1000 per week on rent for its factory. Each shirt made at the factory requires $2 worth of cloth and $6 worth of labour and energy. What is the average cost of the shirt?
From the shape of Lisa's indifference curve, what can you say about Lisa's preferences? If Lisa has to buy her own cake and ice cream, will she usually buy just cake, just ice cream, or a combinatio
Is the change from 5 to 150 a drastic or radical change? Is your situation with 150 planes flying over your house each day more tolerable because the number increased slowly and imperceptibly?
Rachel is not allowed to borrow. Whenever possible, Rachel wants to smooth consumption between periods. How much will she save during her working period?
What combination of the two goods below allows you to maximize your utility with a budget constraint of $14? Show how you arrived at your conclusion in the space provided below.