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Suppose Sally only purchases food and clothing, and her utility can be expressed as U = F _ C. Currently, food costs $5 per unit and clothing costs $2 per unit. Her income is $70.
What is her optimal bundle?
Illustrate the economy's adjustment to its long run equilibrium only, as the formerly dislocated (and now retrained) labour force is finding employment in new industries.
Political business cycle: Do economic events affect presidential elections? To test this so-called political business cycle theory, Gary Smith 20 obtained the following regression results based on the U.S Presidential elections for the four yearl..
Graph these data using "dollars" on the vertical axis and "quantity" on the horizontal axis. At what output is revenue maximized?
What are some of the positive externalities of education? Why may higher education offer fewer positive externalities than primary or secondary education?
What is the amount of the difference between the maximum premium and AFP, and what is this called?
Lawn mowing services are supplied by a host of individuals in the suburb of Westbrook. Demand and supply conditions in the perfectly competitive domestic for lawn mowing services are:
Let's say there's a world-wide influenza pandemic. Assume that the marginal cost (supply) of influenza vaccinations is constant at $40. Assume that everyone in society has health insurance that pays 80% of all medical services
Bright Future, Ltd (BF) is a non-profit foundation providing medical treatment to emotionally distressed children. Determine the optimal amount of service provided by BF.
Questions on Long-Run Labor Demand and Factor Substitutability, Own-price elasticity, Cross-price elasticity
The impact of changing from a federal income tax to a federal consumption tax would be:
List and explain the sources of expenditures in economy by focusing on the 4 major sectors of economy.
Discuss briefly what you think the way in which the HDI is constructed. (Briefly means no more than five lines of text. Excesses are severely penalised.)
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