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If the number of subway rides that Mary demands increases from 4 per week to 5 per week when her income increases from $50,000 to $75,000 per year, what is Mary’s income elasticity of demand for subway rides? What type of good are subway rides for Mary? If the number of subway rides that Mary demands increases from 4 per week to 5 per week when her income increases from $50,000 to $75,000 per year, what is Mary’s income elasticity of demand for subway rides? What type of good are subway rides for Mary?
When the Fed sells government securities:
what is Marginal Analysis and why Is Marginal Analysis Important in Economics? (c) What is the role of Marginal analysis?
q.consider the following extended classical economy in which the misperceptions theory holdsad y 300 10mp.sras y ? p
List the characteristics of each school of thought and draw the aggregrate demand and aggregate supply curves that demonstrate of each school of thought:
Suppose that there is a natural disaster that destroys part of the nations capital stock. Determine the effect on aggregate output, consumption, employment, and the real wage, with reference to income and substitution effects, and explain your result..
Identify why our economy is not creating jobs fast enough to bring the economy to full employment? Or to put it in another way, what can we do create jobs in our economy?
Used properly, graphic aids can clarify complex points or emphasize a message. Used improperly or sloppily, they can be distracting or misleading. In preparing for a presentation to the Hi Time Board, the client tells the researcher that the chart do..
Consider a market where supply and demand are given by QXS = -18 + PX and QXd = 90 - 2PX. Suppose the government imposes a price floor of $41, and agrees to purchase any and all units consumers do not buy at the floor price of $41 per unit.
Think about a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.). Explain how the law of demand affected your purchase. Give specific examples of how the determinants of dema..
Is a strong dollar always good? Is a weak dollar always bad? Who are the winners and losers of an appreciating or depreciating dollar? What are foreign exchange rates all about, and how do they work? What is the Law of the Comparative Advantage? How ..
The Governor of Arkansas has asked you (her crack economic advisor) to analyze how employment in trucking and poultry processing will be affected if the legislature passes a proposed law that will increase labor cost in both industries by ten percent..
In December 1992, the government began requiring that food contain labels with nutritional information. The information had to be verified by independent laboratories. The price of verification was $20,000 per food item. What impact would this have o..
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