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A produced 7 cups of coffee($4 a cup) and 4 cups of decaf ($3 a cap) during 2013, During 2014 , A produced 9 cups of coffee($5 a cup) and 5 cups of decaf( $3 a cup)
Calculate the CPI for 2014 assuming 2013 is the base year.
Under what conditions will a firm close in the short run? Explain the reasoning behind the shutdown rules. If a firm has short-run losses, when would it stay open?
Consider the following four situations. In which situation would borrower be best off and in which situation would a lender be best off?
What is the primary goal of monetary policy and what are the three primary tools available to the Federal Reserve to meet this goal?
A firm has a choice of 2 production technologies. One allows the firm to produce using production function F (K,L) = 10K^(1/3)L^1/3. The other production function is G (K,L) = min (3K,3L), the firm wants to produce 100 per units per month in each of ..
Which of the following raise the incentive for households to save?
Which of the following explains why big business typically spends more on rent-seeking activities than consumers?
Find the effective annual interest rate (b) Use your result in (a) to find the value of the investment immediately after the 10th investment (use the algebraic form of any interest factors used).
Draw the wage-schooling locus for someone for whom returns to schooling decrease through college but increase after college
Fifty years ago, there were primarily only 3 major companies in the US supplying automobiles. Today, with the expansion of global markets there are many companies selling autos in the US market. About how many companies sell autos in the US market? W..
Consider two countries (Home and Foreign) that produce goods 1 (with labor and capital) and 2 (with labor and land) according to the production functions described in problems 2 and 3. Initially, both countries have the same supply of labor (100 unit..
The Paradise Shoes Company has estimated its weekly TVC function from data collected over the past several months, as TVC = 3450 + 20Q + 0.008Q2 where TVC represents the total variable cost and Q represents pairs of shoes produced per week. Describe ..
Explain why calculating GDP using income approach or expenditure approach yield the same for any economy. Use the idea of circular flow to explain how expenditure approach and income approach is shown in the circular flow diagram. What are the two fl..
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