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If Lewis' Marginal rate of substitution (MRS) between beer and cheese (with beer on the vertical axis and cheese on the horiontal access) is given by: MRS=-MUc/MUb=-4B/C what will be his optimal consumption choices of beer and cheese given the original prices of Pb=$2 and Pc=$5 and income =$500? How much income is spent on beer? How much on cheese?
Design the logic pseudocode and a flowchart for a program that allows a user to enter 12 numbers, then displays each number and its difference from the numeric average of the numbers entered.
1. UNIX is highly portable. What is portability? What makes UNIX so portable? Why is portability so important? 2. Why do you suppose professional programmers find the consistency and elegance of UNIX so appealing?
Graph this consumption schedule and determine the size of the MPC. b. Assume a lump sum tax is imposed such that the government collects $10 billion in taxes at all levels of GDP. Calculate the tax rate at each level of GDP. Graph the resulting consu..
What causes the lags in the effect of monetary and fiscal policy on aggregate demand What are the implications of these lags for the debate over active versus passive policy
read the below article lsquokoizumis last chance to rescue japan then click continue to answer the problems.koizumis
Using the aggregate demand-aggregate supply diagram, graphically illustrate and explain the impact of an appreciation of the U.S. dollar on the price level andreal income in the short run.
Compute the arc cross-price elasticity of demand among beverage sales and appetizer prices.
In the former Soviet Union, people often resorted to black market transactions preferring them over waiting in long lines for goods and services. This fact seems to suggest that saving time is part of the consumer surplus derived from buying goods..
Nico Nelson, management trainee at a large New York based bank is trying to determine the real rate of return expected by investors. He notes that the 3-month T-bill currently yields 3%,
What are some of the damaging effects inflation has on an economy and What would be a monetary policy prescription to reduce or eliminate inflation?
Suppose the marginal cost of writing a contract of length L is MC(L) = 10 + 4L. Find the optimal contract length when the marginal benefit of writing a contract is:
Assume that gross private domestic investment is $800 billion and the government (state, local, and federal combined) is currently running at $400 billion deficit. If households and business are saving $1,000 billion, what is the value of net exp..
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