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Q1. Unlike discretionary changes, automatic stabilizers have the obvious advantages that they act instantly, explain how?
Q2. In 1949 the city of Sherbrooke, Quebec, built a hospital for about $500 000. In 1987 the city restored its courthouse for about $2.4 million. A price index for nonresidential construction was 14 in 1949, 92 in 1987, and 114.5 in 2000. According to these numbers, what did the hospital cost approximately?
When the bookstore announces a 20% price increase in new texts and a 10% increase in used texts for next year, Guojun's father offers him $80 extra.
Michael spends $10 a month on both Pez dispensers and Superman action. His marginal-utility-to-price ratio for the Pez dispensers is 40.
Identify your fixed and variable costs at your fast food restaurant, and explain the changes to each of these costs, given the increased demand.
Between two production technologies firm can choose a new product line. If it installs expertise 1, it's annually costs.
Assume that the industry wants to expand and has to make some long-term capital budgeting decisions. Now the industry is confronted with government regulations to oversee the merger.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
Proposals for modifications of the law are formulated by committees. Under the closed rule, the legislature may either accept or reject a proposed modification, but may not propose an alternative.
Caught up in broad social and economic disaster that swept the Mediterranean basin during the twelfth century BCE, what seems to have happened to the civilization of people.
Explain what occurs when a new technology makes another one obsolete in terms of economic profit.
Assume that we care about the average welfare of individuals in Indian villages, i.e., we put equal weight on each individual's utility.
A residential rental property is acquired during the first month of the taxable year, at a total cost (including transaction costs) of $1,200,000.
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