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8. Julia's publisher sends her a $15,000 check every year that her book is in print. Suppose Julia's book is in print for five years and the inflation rate during that period is (-2) percent.A. What has happened to her nominal income from the book? Explain in 1-2 sentences, demonstrating you understand the term "nominal income." (4 points)B. What has happened to Julia's real income from the book? Explain in 2-4 sentences, demonstrating you understand the term "real income." Note: there's not enough information to calculate precise changes; just discuss in terms of directions. (6 points).C. In 4-5 sentences, explain what the term "deflation" means and why it is considered to be problematic. Support your answer with paraphrased evidence from the text AND assigned articles. (15 points)9. (A) Calculate price index numbers for the following table, assuming year 3 is the base year, and put your results in the last column. (5 points)(B) What does the price index tell us? Answer in 1-3 sentences. (5 points)YearMarket Basket OutlayPrice Index1$1702180320042005224
Despite the empirical evidence to the contrary, college decision-makers often believe that their price elasticity of demand is essentially zero. Is that right How important were price considerations in making your college decision Would a change o..
A monopolist that practices perfect price discrimination will choose an output level where marginal revenue is equal to marginal cost to maximise profit.
Discuss the potential risks of using Web 2.0 tools. Provide several examples. What are the benefits of "build-to order" to buyers and sellers? Are there any disadvantages?
Assume that a monopolist sells a product with a total cost function TC=1200 + 0.5Q2 and a corresponding marginal cost function MC = Q. The market demand curve is given by the equation P = 300-Q. a. Find the profit- maximizing output and price for thi..
Acres, whose grandmother gave her a family recipe for making pies, loved to cook, and she decided to staft a business she called Mrs. Acres Homemade Pies. The company produces specialty pies and sells them in local supermarl
Post a 4-5 pg paper. Identify and provide a description of one interest group and its connection or relationship to each of the two principal political parties. How does each influence the state government ?
Discuss the performance of the economy over those ten years and provide evidence and explanations for the economic performance such as a high unemployment rate, high inflation rate and/or steady, long-term economic growth.
explain the price elasticity of demand in each market structure and its effect on pricing of its products in each
Evaluate the following statements using graphical analysis. Provide a brief narrative explanation of your graph to support your evaluation. Make sure the axes and curves in your graphs are properly labeled. a. "When demand for home heating oil incr..
in the 1990s pfizer inc. developed a new antibiotic called trovan trovafloxacin mesylate. tests showed that in animals
Why is the concept of elasticity important? What does it tell economists? Tell whether you would classify automobile production as either elastic or inelastic in the short run and long run. (Keep in mind that we are talking here about supply elas..
The toll-bridge operator is considering an increase in the toll to $7.At this higher price, how many people would cross the bridge? Would the toll-bridge revenue increase or decrease?
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