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1. Read the March 1, 2012 Chicago Tribune article Chicago-are gas tax hike proposed to fund mass transit investment. The article has been posted, Please use the link above.a. If you rely on mass transit what does this proposed tax hike mean to you personally?b. If you drive to school/work what does this proposed tax hike mean to you personally?c. How does this proposed tax hike affect the social cost of gasoline consumption in the short-run? In the long-run?d. Do you support this proposed tax hike? If yes defend your position? If not provide an alternative policy? (Answer as an economists, not as a mass transit user or driver).
What is the real mortgage interest rate in 2001, 2002, 2003 and 2004, what are the values in 2000 dollars of Nancy's monthly mortgage payments in 2001, 2002, 2003, and 2004?
Elucidate how might raise the chance that the employee would retire earlier as compared with the situation where the employee had to pay for his own health insurance.
Describe the Federal Reserve System. Be sure to mention and discuss the Board of Governors, the regional Federal Reserve banks, and the Federal Open Market Committee.
You are the manager of Taurus Technologies and your sole competitor is Spyder Technologies. The two firms' products are viewed as identical by most consumers. The relevant cost functions are C(Qi)=4Qi and the inverse market demand curve for this u..
What can you say about the relationship between marginal revenue and marginal cost for output rates below the profit-maximizing (or loss-minimizing) rate? For output rates above the profit- maximizing (or loss-minimizing) rate?
Refer to the above data. If the product price is $95, at its optimal output will the firm realize an economic profit, break even, or incur an economic loss?
Consider an exchange economy with two goods, 1 and 2, and two consumers, A and B. The consumers are initially endowed with a total of unit of each good, i.e. w1 = w1A + w1B = 1 and w2 = w1B + w2B = 1.
The average cost per person for crashes in the Tampa, Florida, area was reported to be $1599. Suppose this average cost was based on a sample of 39 persons who had been involved in car crashes and that the population standard deviation is ? = $700..
Draw a graph of the UK labour market that shows the demand for labour, the supply of labour, and the real wage rate in 1973 and 2003. Draw a graph of the UK production function in 1973 and 2003. Make sure your graph shows potential GDP in both year..
In the late 1990s a growing number of economists argued that world policymakers were focusing too much on fighting inflation. The economists also argued that the technical level of potential output had risen. Show their argument using the AS/AD mo..
Assume that the legal reserve requirement is 10 percent on all deposits. Suppose BoA has $200 million in checkable deposits, $30 million in reserves, $50 million in securities, and $150 million in loans. What is BoA's bank capital? Draw a balanc..
Illustrate what would this typical basket have cost in the base year.
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