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Suppose two goods, X and Y, are perfect complements. A consumer has $60 to spend. Initially, the price of each good is $2. If the price of good X falls to $1, how much of the total change in quantity demanded is due to the income effect? (Hint: Sketch the graph.)
The depreciation of the dollar versus the yen: Look back at equation (20.3) in Section 20.2 E = P^w / P. Apply our growth rates rule (from Chapter3) to this equation to express the growth rate of the exchange rate as a function of the infaltion rate ..
Consider the combined Solow-Romer model (i.e., there are both capital and idea stocks) that we worked through. Suppose the economy begins on a balanced growth path in the year 2000. Then in 2030, the depreciation rate ¯d rises permanently to a higher..
Write equations for APL and MPL and graph them on the same set of axes. b. At what level of L is MPL at its maximum level? At what level of L is APL at its maximum level?
What is the confidence interval for the proportion of households represented at a town meeting. Survey of households in a small town showed that in 850 of 1,200 sampled households.
Given the global financial crisis of 2007–2009, do you anticipate any changes to the systems of fixed exchange rates and forward contracts in the near future? Are the changes you envision strictly procedural or regulatory, or do you believe that some..
q.branding i jorge products a specialty steel fabricator operates a plant in the town texas of west star. the town has
Calculate a change in the mix of monetary and fiscal policy that leaves output equal to the level it is when M=900 and G=1,200 but in which the interest rate is 3% rather than 5%. Describe what happens to the value of the dollar, net exports, the gov..
Suppose you have initial wealth of 1000, current income of 2000, and future income of 2750. The real interest rate is 10%. For each of the following consumption points, is the point on your budget line, outside your budget line (so you can't afford i..
A consumer has income of $500. chips costs $2 , and burger costs $6. Draw his budget constraint (put burger on the horizontal axis). What is the slope of her budget constraint? Draw Consumer’s indifference curves for chips and burger if you love chip..
A monopolist selling several different products can sometimes "price discriminate" by bundling products together. Here's an example. Suppose the university is planning to offer a series of two concerts. The first program in the series consists of mus..
To counter parents' concerns about fast foods and childhood obesity, McDonalds considered: Domestic currency depreciation will:
The elasticity of demand for labor with respect to the wage rate will be less if firms using this labor are experiencing decreasing returns to scale than if they are experiencing increasing return to scale True false why
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