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It takes 1 hour to travel from New York to Washington D.C. by air and 8 hours by bus. The airfare is $190 and the busfare is $35. If a traveler wishes to minimize the total cost of making this trip, which mode of transportation should be selected if the traveler’s opportunity cost of time spent in transit is $10 per hour?
Identify three changes that American society is undergoing, and discuss how those changes are reflected in schools? How can you as a teacher become better prepared for the cross-cultural differences that you are certain to encounter among students? H..
Perfect Competition is a model of which examples are few and far between; yet economists love to discuss this model. Obviously this model is not suitable for analyzing healthcare economics. Discuss.
Calculate the balance due, principle payment, and interest payment for each period of a new car loan. the nominal interest is 8% per year, compound monthly. Payments are made monthly for 5 years. The original loan is for $27,000.
For Firm A, when four units of output are produced, total cost is $175 and average variable cost is $33.75. What would average fixed cost be if ten units were produced.
q1. if real salaries increase but nominal salaries do not what can be said of prices on average?q2. he second year of
You have an insane roommate who plays “Let it Go” (from Frozen) on repeat on her phone all the time and thinks that everyone should put on pink tutus and sing very loudly and dance to it. You share your apartment with him and with three others. Shoul..
Assume only two countries, China and the US. If China decides to stimulate growth through a policy of running a large export trade surplus, does China’s national saving increase? Show the relationship between China’s national savings, domestic invest..
If the marginal product of the 4th worker hired is 6, and the marginal product of the 5th worker hired is 4, you should not hire the 5th worker because your profit would decrease since the 5th worker’s marginal product is less than the marginal produ..
Consider the bond market. Show graphically and explain how a reduction in expected inflation would affect bond prices, quantities traded and yield.
Which of the following is an example of an unintended effect of fiscal policy?
In general. People who are more productive earn higher incomes and thus pay higher taxes. How would a change in the immigration laws that favored more highly educated and skilled individuals affect the future tax burden of today’s American college st..
Elucidate using a graph why the change in real GDP is likely to be smaller than the shift in the aggregate demand curve.
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