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A consumer has the utility function U(x,y) = (y+10)x + 4y, where x>=0 and y>=0 represent her consumption of goods X and Y.(a) Calculate the marginal utility of good X and the marginal utility of good Y.
(b) Assume that the consumer has I=$100 to spend on goods X and Y. The price of goodX is Px=$7 per unit, and the price of good Y is Py=$4 per unit. Calculate the consumer's highest possible utility and the consumption bundle (x,y) that achieves that utility. You should show your reasoning and justify your answer carefully.
Suppose the Fed buys $200 million worth of Euros with U.S. currency and, at the same time, sells $200 million of U.S. government securities for U.S. currency in a domestic open market operation. What is the net effect on the monetary base? How has..
Can you share the economic development strategies also quote some examples of Elucidate how Singapore also US use them.
Suppose that, for a firm that digs ditches for laying cable or pipeline, backhoes and backhoe operators are pure complements in production, being used on a one-for-one basis. Draw the isoquants (on a graph with backhoe, “K”, and backhoe operators, “E..
An increase in Real GDP means that the Production Possibility Curve must move outward. There is no cost to the macro economy of current consumption. Increased Capacity Utilization means that the PPF is moving outward.
Illustrate fiscal policy action might increase investment and speed economic growth.
Assume some pencil workers switch to jobs in the growing computer industry
How did the economic, political, and social forces drive the Europeans to exploration and colonization?
why do you think drug companies spend so much on advertising for drugs they have a patent on (essentially giving them monopoly power) but so little on drugs with an expired patent when generic alternatives are available
The reserve requirement, open market operations, and the money supply. Which of the following statements help to explain why, in the real world, the Fed cannot precisely control the money supply? Check all that apply. The Fed cannot prevent banks fro..
q. a facility for a production plant can be purchased for 155000 with a down payment of 25000. consider the following
You run a small business that uses both capital and labor to produce your output. The machinery (capital) has a marginal cost equal to $25 per hour and a marginal product cost equal to 50 units per hour. How many units of labor will the firm use?
In the United States, the distribution of income is more unequal than the distribution of wealth. Explain this idea and address how reducing inequality could be a macroeconomic goal. Finally, what insights would Marx provide on understanding why ineq..
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