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Assume that there is a simultaneous increase in household income and in the opportunity cost (the price) of rearing children relative to other goods. Please analyze the possible impact of such changes on the desired number of children per family, using the microeconomic household theory of fertility’s diagram.
Assume that children are considered normal goods, like most commodities, and the number of desired surviving children is measured along the horizontal axis. Be sure to label: i. the axes; ii. the curves; iii. the initial and terminal optimum consumption bundles that maximize family satisfaction; iv. the direction the rotation of the budget line. State in words what happens to the number of desired children per family (if any). Give an example of polices that may lead to this outcome.
Lady Gaga has come to you for advice. She has balances at three department stores as shown in the table below. The monthly interest rates vary between stores as shown. She wishes to pay off all three accounts by the end of three months. She will allo..
It is said that a wage increase can have two opposing effects. Which of the following captures these two effects?
What does the demand curve faced by a monopolistic competitive firm look like? Explain why it is sloped this way, and what this implies about the relationship that exists between price and marginal revenue under monopolistic competition.
in 1981 a boston-based gas station owner set the highest gasoline prices in the nation. during that summer he charged
Which of the following is an accurate statement about state lotteries?
Construct a bank balance sheet with the following items: reserves, deposits, loans, securities, capital, and debt. Choose values so that the reserve-deposit ratio is 10 percent and the leverage ratio is 10. Give an example of a change in asset values..
Explain the practical effect of price controls on product and service availability, quality and true cost. What is the full impact of rent controls? On whose behalf are they imposed? Who are the winners and who are the losers? What is the impact of p..
Why does the MFC curve (also known as the marginal cost of labor curve) for a monopsonist slope up from left to right? In other words, why does a monopsonist's marginal cost of labor curve (MFC) have a positive slope?
When monetary policy makers embark on expansionary policy, the underlying economic condition is one of high optimism and the economy is heating up. When people are between jobs or searching for jobs, they are categorized as "frictionally" unemployed.
Suppose that the market demand for a monopolist's good is given by the following demand function: P=150 - Q. In addition, suppose that the firm's total cost function is TC = 50 +20Q. Finally suppose that the firm utilized a uniform pricing rule. What..
q. assume that the feds inflation target is 2 percent potential output growth is 3.5 percent as well as velocity is a
If Company A has a Current Ratio of 2.0 and its industry peers have an average Current Ratio of 1.0. What does this information indicate?
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