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You must complete two Short answer questions and one Essay question for the Exam.
All answers must be in the form of a paragraph (minimum of 5 sentences per paragraph). Please select from below:
Short Answer
1. What is systemic and non-systemic risk? Please provide examples of both.
2. How is the Gini coefficient related to the Lorenz curve? What do the recent results infer?
3. What are the various transfer programs the government performs?
Essay
1. Define and explain three barriers to trade. What effect do these barriers to trade have on domestic consumer surplus? What is the Riccardo Effect in relation to specialization and exchange? Who benefits from specialization and exchange in terms of domestic and international consumers and producers?
2. Define and explain the purchasing power parity (PPP). How is inflation adjusted for within currency exchanges? What would happen to the costs of doing business if we went back into a "Bretton Woods" type agreement? What is a fractional reserve system and would it still be susceptible to a classic "run on the banks"?
industry a has market shares of 50 30 and 20. industry b has market shares of 45 40 and 15. hint hhi ? si2 where si
Assume that gasoline retailing industry is perfectly competitive, constant expenses, and in long run equilibrium. If the government unexpectedly levies a 5-cent tax on every gallon sold by gasoline retailers,
Assuming that there are only two goods, and the other good (food) is capital intensive, show the equilibrium points of production and consumption in ALFA, before and after trade.
What is the relationship between potential output and the natural rate of unemployment If the economy currently has a frictional unemployment rate of 2 percent, structural unemployment of 2 percent, seasonal unemployment of 0.5 percent.
Do workers choose to work more because wages are temporarily high and do workers choose to work less because wage are temporarily low? This is key to the "intertemporal substitution" story of this chapter. The following chart shows how much wages ..
The publisher of an on-line Economics Primer course is trying to sell the primer to a group of MBA students and a group of EMBA students in the US. The maximum willingness to pay and the number of students in each group
find the yield to maturity of the following securitiesa. a security paying 1000 in one year for which you pay 926
Like supermarkets, full-service department stores like Macy's are generally in decline. What factors might these types of stores have in common behind their declines How would you determine which were important and which were not
Tariff and non tariff barriers exist in all nations, either independently or as part of a multicountry integrated economy. Present arguments that defend the use of trade barriers and arguments against the use of trade barriers.
Movie theaters generally charge the same ticket price for all movies with evening show times, regardless of popularity. This pricing strategy causes surpluses for unpopular films & shortages for popular films.
q1 many factors determine the supply and demand for labor. identify and explain two factors that would increase or
an analyst is trying to determine the net social benefits generated by the citys public swimming pool. at the current
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