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What is the relation between the Gini coefficient G(y) for total personal income and the Gini coefficients G(w) and G(r) for wage income and property income, respectively?
Inspect the non-wage determinants of the demand for and the supply of labor; make sure they are set to their original values. A. What is the equilibrium market wage rate? How is it determined?
What is the SIC predicting about China"s exchange rate policy? Why? What is the yuan-dollar exchange rate?
Draw a production possibility frontier that is consistent with the above assumptions. Depict an initial world trade equilibrium and the consumption possibilities of the large country, consistent wit
Diminishing returns grow increasingly more important as output increases The graph of marginal cost is upward sloping due to diminishing returns as is average variable cost
Assume that initially capital and output per unit of effective labor are less than their balanced-growth-path values. Now suppose that in this situation, the saving rate rises permanently.
When pricing automobiles, American car companies typically charge a much higher percentage markup over cost for luxury option items (such as leather trim, etc.) Than for the car itself or for more
There"s this concern that we can"t do anything that would jeopardize the hard-won civil liberties that we gained after [General] Suharto [Indonesia"s autocratic ruler in 1967-98] fell. That"s the co
An industry with a large number of small firms is usually thought to be highly competitive. Is that supposition true of the banking industry?
Lecture CAPM and APT provide us with a model of expected return. The question remains, what price should a stock sell for? A) Dividend Discount Model The price of a stock is equal to the infinite d
Suppose the exchange rate is $1.40: 1. If a bottle of French wine is 25 euros what is the dollar price for the wine? A) dollar price = 2 Q) Suppose the exchange rate changes to $1: 0.50. What is th
If the exchange rate last year was $1.5:1. But this year the exchange rate was $2: 1. What has happened to the dollar over the year?
It can be derived from the market supply curve. Graphically, it is equal to the area above the supply curve and below the price. Example: A producer willing to sell a good for $2 but receiving a pr
What are the equilibrium price and quantity, the consumer surplus, producer surplus and the gains from trade in the T-shirt market?
The infusion of low-cost financing (including government guaranteed and government provided mortgages), combined with a serious shortage of land for housing construction, has led to skyrocketing hom
What is the extra benefit consumers receive by being able to make market transactions at the prevailing market price? How much would they be willing to pay for the right to consume the amount deman
What is the mission of the NYSE? B. Firms must pay a fee to list their shares for sale on the NYSE. What would be the fee for a firm with 5 million shares common outstanding?
Consider the following equations for demand and supply : D( pt ) = -2 pt + 7 S(pt -1 ) = 8pt -1 + 1 a) Find the equilibrium price . b) Is this a stable equilibrium? Why or why not? C) Suppose p0 =
Your diligent effort will allow you to decide how much of your product to provide and allow you to place it on the market shortly before your competitor will be able to make its product available fo
Evidence and Implications for Asset Management," September 13-15, 1992, Santa Barbara, California. Jagannathan, Ravi, and Zhenyu Wang, 1993, The CAPM is alive and well, Staff report 165, Federal Res
What are financial intermediaries and what do they do? What information problems exist in financial relationships and how do financial intermediaries help solve them?
If the committee wants to maximize the net benefit from reducing acid rain, what is the optimal level of pollution reduction? 3.[5 points] Suppose that a perfectly competitive industry is in long-ru
Compute the three-dimensional Chebyshev polynomial tensor product approximation on [1, 3] using 11 points in each dimension. Use 41 uniformly distributed points in each dimension to compute the L a
The simultaneous determination of income and interest rates; how different shocks affect these two. The option of choosing alternative policy mixes to achieve macroeconomic goals. The use of + and
Why do national income accountants compare the market value of the total outputs in various years rather than actual physical volumes of production? What problem is posed by any comparison over tim