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1. What are the four supply factors of economic growth? What is the demand factor? What is the efficiency factor? Illustrate these factors in terms of the production possibilities curve.
2. Suppose that Alpha and Omega have identically sized working-age populations but that annual hours of work are much greater in Alpha than in Omega. Provide two possible explanations.
There are only two firms in the widget industry. The total demand for widgets is Q = 30 - 2P. The two firms have identical cost functions, TC = 3 + 10Q. The two firms act as though they were a monopoly. At what price and quantity will this cartel ..
What would this data predict about the earnings gap in 1986? (The actual gap in 1986 was 25,256 - 16,232 = 9024)
Suppose that you expect to sell about 22,000 cookbooks per month online, and assume that your overhead, technology, and equipment costs are fixed. What are your total costs What are your marginal costs
When the price of gas in Italy is $5 per gallon, Joe consumes 1,000 gallons per year. The price rises to $5.50 and, to offset the harm to Joe, the Italian government gives him a cash transfer of $500 a year. Will Joe be better or worse off after t..
suppose that you are hired as consultant to a firm producing a therapeutic drug protected by a patent that gives a firm
What are the profit-maximizing price that High-Tech should charge if they sell each product separately and what is the total price of the two goods?
Calculate the new equilibrium interest rate and quantity, and explain why the direction of the interest rate shift makes intuitive sense.
What can you do to change the bargaining to your advantage? Compute the profit consequences of your advice.
Assume that the threatened default on the government debtdescribed in the problem on page 233 of the text has no immediateeffects on any of the "fundamentals" in the economy (C, G, T, andY). However, suppose that international investors
Describe key elements of the role that Congress plays within the U.S. federal system, with particular focus on Congress' ability to reflect the will of the people. Support your argument with at least two concrete examples.
What is the amount of the monthly payments if he intends to pay the house off in 25 years?
Five years ago, when the relevant cost index was 120, a nuclear centrifuge cost $40,000. The centrifuge had a capacity of separating 1500 gallons of ionized solution per hour. Today, it is desired to build a centrifuge with a capacity 4500 gallons..
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