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A small island nation that lives in anarchy and does not have agovernment is endowed with indestructible coconut trees. Thesetrees live forever and no new trees can be planted. Every year $1million worth of coconuts fall of the trees and can be eatenlocally or exported to other countries. In past years the islandnation ran current account surpluses and financial accountdeficits, acquiring foreign bonds. It now owns $500,000 of foreignbonds. The interest rate on these bonds is 5% per year. Theresidents of the island nation consume $1,000,000 per year. Whatare the values of GDP, GNP, national saving, the current accountbalance, the financial account balance, and investment in thiscountry?
Year price quantity demanded Real Income Price of Substitute 1 .95 200 11000 .65 2 1.10 180 11000 .65 3 1.10 190 11500 .65 4 1.10 200 11500 .90 5 1.10 170 11500 .90 6 .99 190 11500 .90 7 .99 175 10500 .90 8 .99 150 10500 .62
A consumer has 400 to spend on goods X and Y. The market prices of these two goods are Px = $10 and Py = $40. a. What is the market rate of substitution between goods X and Y b. Illustrate the consumer's opportunity set in a carefully labeled diag..
A firm uses two variable inputs, labor, L, and raw materials, M, with typically shaped isoquants. It pays $20 per hour for L and $5 per unit for M. At the current mix of L and M, the marginal products of L and M are: MPL = 20 MPM = 4
Define inflation. Assume that you live in a simple economy in which only three goods are produced and traded: fish, fruit, and meat. Suppose that on January 1, 2007, fish sold for $2.50 per pound, meat was $3.00 per pound, and fruit was $1.50 per ..
If in an economy a $150 billion increase in investment spending creates $150 billion of new income int he first round of the multiplier process and $105 billion in the second round, the multiplier and the marginal propensity to consume will be
Suppose that a monopoly firm finds that its MR is $50 for the first unit sold each day, $49 for the second unit sold each day, $48 for the third unit sold each day, and so on. Further suppose that the first worker hired produces 5 units per day
Argocy Associates a US based investment partnership, borrows €80.000.000 at a time when the exchange rate is $1,3460/€.The entire principal is to be repaid in three years, and interest is 6,250% per annum,paid annualy in euros.
what will happen to equilibrium quantity od peanut butter traded in the market after the 30% increase in the price of peanut butter? stay the same, increase, decrease, or not enough information to tell what will be the expected change in the quant..
The Downtown Parking Authority of Tampa, Florida, reported the following information for a sample of 250 customers on the number of hours cars are parked and the amount they are charged. Number of Hours Frequency Amount Charged 1 20 $ 3.00 2 38 6...
Last year's crop was 100 million bushels, and the price was $5 per bushel. This year's weather was favorable throughout the country, and this year's crop will be 110 million bushels, or 10 percent larger than last year's. The price elasticity of d..
One hundred compressors of 200 H.P. rating are being considered for purchase by the state highway department. The compressor index was 400 five years ago and is 520 today. The cost of 150 H.P. compressors bought five years ago is as follows.
(A pence was a British monetary unit equal, at that time, to 2 cents U.S.). Q = output, measured in millions of kWh per year Z = plant size, measured in thousands of kilowatts C. Holding plant size equal to 150,000 kilowatts
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