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The following questions are about the one-period macroeconomic model discussed in class. Notice that nothing has been specified about the preferences of the consumer or the production technology of the firm.
Suppose there is a new production technology that increases total factor productivity, z. How does this effect the labor supply choice of the representative consumer?
q1. a monopoly with constant marginal costs of 50 can sell to three groups of potential consumers with demands q1 800
You have made an important presentation to several Japanese executives regarding a proposed partnership between your American company and their Japanese firm. The Japanese executives were very silent during the presentation. Most people in the United..
If a sample of 110 artists was taken, find the average value above which only 15% would lie. Give your answer in dollars to the nearest dollar.
A new piece of machinery, when placed in service is estimated to cost $225,000. It is expected to produce revenue of $75,000 and operating and maintenance expenses are expected to be $9,000 per year. The useful life of the equipment is 5 years and it..
At the beginning of the year, an audio engineer quit his job and gave up a salary of $ 175,000 per year in order to start his own business, Sound Devices, Inc. The new company builds, installs, and maintains custom audio equipment for businesses that..
“Dams ‘R’ Us” operates a major hydropower dam on the Klamath River in Oregon. In the event of dam failure, there would be major damages to local communities. The company can reduce the probability of failure through proper maintenance of the facility..
Those who desire that policymakers stabilize the economy would advocate which of the following when aggregate demand is insufficient to ensure full employment?
Let customer's tastes change so that consumers now demand 100 more units at each price. When the cost of the good is $50, elucidate how many units of the good are demanded?
In the last years of the 1980s exports increased dramatically. The effects on the U.S. economy include, ceteris paribus,
Suppose in the United States, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. In the United Kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. The United States has 30 workers and..
The Dominion Freight Company has invested $50,000 in a new sorting machine that is expected to produce a return of $7,500 per year for the next 10 years. At a 7% annual interest rate, is this investment worthwhile?
Discuss the various ways federal, state, and local governments attempt to promote education as equality of opportunity. What are the some positives and negatives you see in the involvement of government in the education system?
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