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1. What is the law of unintended consequences? Provide an example.
2. Is the opportunity cost of flying the same for all passengers on an airline flight from New York City to Los Angeles? Why or why not?
3. Suppose individuals who were uninsured now acquire medical insurance through an employer. How does that affect the marginal cost of medical services? What is likely to happen to the consumption of medical services as a result?
How does china devalue their own currency? And why would they do that? People say they do it to increase their exports but that will lower the price they receive for their exports so is it really worth it? What the reasoning behind it?
For the following production functions: calculate marginal product of labor (L), marginal product of capital (K), and the technical rate of substitution. Identify if the production function exhibits constant, increasing, or decreasing returns to scal..
Rising oil prices during the 1970s shifted flower production from califonia to kenya. Which of the following answers explains this shift?
Assume that Consumption decreases by $25 million, Investment increases by $10 million, Government Purchases increase by $60 million, Exports decrease by $30 million and Imports decrease by $55 million. What is the net change in GDP in $million?
President Alcazar announced an increase in the labor subsidy given to firms to try to boost employment and GDP. The subsidies received by a firm are in proportion to the number of workers it employs, that is equal to s N, where s is the subsidy rate ..
Compare and contrast the public-interest and special-interest theories of economic regulation. What is the capture theory of regulation?
Illustrate what Monetary Approach Tools should the Federal Reserve utilize to fight inflation. Describe them thoroughly.
In the cas Palmer v. Champion Mortgage Palmer received a debt-consolidation loan from Champion. When she signed the loan agreement, she also received the required TILA disclosures.
q1. if the impact of the u.s. imposed on japan voluntary export restraint of passenger cars to the u.s. from 2000000
questionfor a labor market in a city or region assume that wages under bad times is 100 and under good times is 150.
Beginning from a steady state in the Solow growth model, explain how an increase in the saving rate will affect the levels and growth rates of capital and output per worker. (Note: discuss both the short-run and long-run impacts).
Consider three agents with the respective utility functions: uA(x,y)= xy (MRS(x,y)= y) x uB (x, y) = x + y (perfect substitutes) uC (x, y) = min{x, y} (perfect complements) Assume each agent has income $120 and initially faces the prices px = $1 and ..
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