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Consider the following utility function: U(X,Y) = max(X, 3Y)
(a) draw the indifferent curve for this utility function.(b) find the Marshalian funtions for X and Y and the corresponding indirect utility function.
assume that the combined consumer goods + capital goods values for points a, b, and c are $20 billion, $40 billion, and $38 billion respectively. If the economy moves from point a to point b over a 14-year period, what must have been its annual ra..
How would a regular LM curve be affected if the private sector demand for money balances increased following heightened uncertainty about prospects for bonds?
If the Bank of Canada continues to take expansionary monetary policy, how are the unemployment rate and inflation affected? (Use both Phillips curve and AS-AD graphs in your explanation.)
Texas instrument once announced a price for random-access memories that wouldn't be available until two tears after the announcement few days later, Bowmar announced that it would produce this product and sell it at a lower price than Texas instru..
In a simple economy assume that all income is either compensation of employees or profits. Suppose also that there are no indirect taxes. Compute gross domestic product from the following set of numbers.
Assume that the soft coal industry is a competitive industry and it is in long run equilibrium. Now assume that the firms in the industry form a cartel.
Suppose further that people want to hold 8 percent of their deposits in the form of cash. Then, if the Fed wants the money supply to be $6,228 billion, what is the necessary level of high-powered money?
A rural utility organization gives standby power to pumping stations using diesel-powered generators.
Write a brief note summarizing the evidence in your graphs for and against deficits causing high real interest rates
The demand for a shake at a Juice Shop can be described by the equation: Q=1000-240P+80N, where Q denotes the number of shakes sold every day,
Assume Smith owns and works in a bakery located next to an outdoor cafe owned by Jones. The patrons of the outdoor cafe like the smell that emanates from the bakery.
Most of the critics argue that America has too many elections, a surplus of elected officials, and unwieldy layers of government.
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