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Suppose a $35,000 Japanese-manufactured car is sold to a consumer in the U.S. in the same year it is produced. This transaction would a) lead to an increase in consumption and imports for the U.S. b) count in the GDP deflator for the U.S., but not the U.S. CPI. c) lead to a decrease net exports and GDP for Japan. d) All of the above.
Assume that apples are an inferior good. Draw a perfectly competitive market for apples and a firm selling apples in the long run equilibrium where price is $10 and the firm’s equilibrium quantity is 50. EXPLAIN what happens in the short-run if custo..
Mary Graham worked as a real estate agent for Piedmont Preoperties for 15 years. Her annual income is approximately $100,000 per year. Mary is considering establishing her own real estate agency. Determine the (pre-tax) accounting profit for this ve..
A business in a monopolistically competitive industry...
If the company expects to spend $50,000 in the first year of this improvement program, how much of a yearly increase in the cost of the program is the company expecting?
Does Defense Spending include transfer payments? Does Welfare (TANF) include transfer payments? Does Interest payments on government debt include transfer payments? Does social security include transfer payments?
Demand is given by : Qd=20-3P Supply is given by: Qs= 2 + 3p what is the cost to a government that sets a price floor of $4 in this market and then agrees to buy up any surplus that exists?
What would be the percentage change in apple unit sales if the price of apples decreased by 10%? What would be the percentage change in apple unit sales if the price of pears increased by 5%? What would be the percentage change in apple unit sales if..
Assume income is $10, the price of each slice of pizza is $1, and the price of each glass of beer is $2. Now change income to $12 and show a demand curve for pizza.
What would happen in the apple market if the government set a minimum price of $2.00 per apple? What might motivate such a policy? Is there a shortage of on-campus parking at your school? How might the shortage be resolved? (William Paterson Universi..
Consider a copy shop with annualized fixed costs of $1000 and variable cost of $0.03 per page. The shop presently has orders for 100,000 copies at a price of $0.05 per page. What is the shop’s average cost (AC) without taking the new order? Is it les..
Government owns the means of production in a socialist economy while individuals own the means of production in a capitalist economy. The government allocates jobs in a socialist economy while individuals determine employment in a capitalist economy...
You are told that the present worth of an increasing geometric gradient is $88,146. If the cash flow in year 1 is $25,000 and the gradient increase is 18% per year, what is the value of n? The interest rate is 10%per year.
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