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Income and Wealth Distribution.
a) How does income and wealth distribution impact Consumption?
b) What happens to GDP when income/wealth distribution becomes more concentrated?
c) What ideas do you have for making income/wealth distribution more equal?
An economy has $72, to divide between Hamlet and Ophelia. What are the Pareto efficient allocations of the $72? Calculate the allocation of money that maximizes utilitarian social welfare. In that allocation, what is the maximized value of social wel..
Evaluate the role and the effectiveness of the Federal Reserve in stabilizing the current economy.
Suppose after submitting your sealed bid in a Vickery austion you find out that they have lost the auction(you were not the highest bidder); However, you have the opportunity to revise your bid. Would you go ahead and change your bid? Why or why n..
What describe the distribution of national salary among labor and capital in a competitive, profit-maximizing economy with constant returns to scale.
Suppose that the aggregate demand and supply schedules for a hypothetical economy are as shown below: Use these sets of data to graph the aggregate demand and aggregate supply curves. What is the equilibrium price level and the equilibrium level of r..
They value campaign funding in terms of dollars spent. Therefore, after spending ci on a campaign.
Elucidate how much profit does an individual producer make in a month. Is this a long-run equilibrium.
Show each of the following events on a bank’s T-account:
The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table.
As weekend prices skyrocket more people will play golf during the week and eventually the weekend prices will drop and weekday prices. Differentiate among weekday and weekend prices.
q1. what is the rationale behind the mini-max regret rule? illustrate several less formal and precise methods of
Suppose the own price elasticity of market demand for retail gasoline is -0.9, the Rothschild index is 0.4, and a typical gasoline retailer enjoys sales of $1,700,000 annually. What is the price elasticity of demand for a representative gasoline reta..
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