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Q1. A consumer must pay $10 per visit to an amusement park for the first five visits but only $5 per visit beyond five visits. What does the budget line relating to amusement park visits and other goods look like?
Q2. Consider the markets for pizza and beer. Show graphically (using a diagram for each market) and explain the impact(s) you would expect if technological change leads to the development of a pizza oven that is both much cheaper and uses less energy than current ovens.
Solve for steady-state level of captial and output. What savings rate would be necessary to achieve a steady-state output of 150.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
A major Statistics Canada household survey, the Survey of Labour and Income Dynamics or SLID, the latest of which is referred to as SLID 2009.
The terms of trade if the united states trades 1 can of soda for 5 units of clothing.
Find Equilibrium GDP (Y). If potential GDP is 1950, is the economy in a recessionary or inflationary gap. Suppose that the MPC, falls to 0.75, so C = 0.85DI. Find Equilibrium GDP.
What are price indexes designed to measure. Outline how they are construed. When GDP and other and other income figures are compared across time periods.
It comes to global expansion and setting up affiliates aboard, how is a service company's focus different from that of a manufacturing company
The largest loan that the bank can make on the basis of the new deposit. If the bank chooses to hold reserves of $3,000 on the new deposit, what are the excess reserves on the deposit.
One of the three ADM executives was actually an informant who tipped off the Feds about this conspiracy. Which executive was he. Why did he rat out his co-workers.
What is the equation for the AS curve. What restrictions on the parameters do we need to ensure that AS curve has a positive and nite slope.
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitute's one product for another. Use examples to illustrate.
An increase in the number of varieties of a good regarded as a gain from trade. Can you think of economic disadvantages associated with greater product variety.
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