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Consider we wanted to know how many trips versus dinners out you could purchase. If you were told that X = number of trips and Y = the number of dinners out and you were given the following budget information; M=4000, Px=800, and Py=100, answer the following questions. Note: In general we may note that W ≥Px*X + Py*Y à use M instead of W for the purposes of this question. i. Graph the budget line, and determine the market rate of substitution. Make sure to Illustrate the budget set as well as what is unaffordable. Also note the maximum amounts of both trips and dinners you can purchase given wealth/Income and prices. ii. Show in your graph what happens to the budget constraint if Px decreases to $500 (i.e. the costs of trips drops). iii. What is the meaning of the slope of the two budget constraints? Explain using the values you calculated.
Suppose that you are a borrower with a project that has a rate of return of 6.8%. You submit a bid to borrow $1,000 at an interest rate of 5%, and a lender accepts your offer. After you fund your project and pay back your loan, what is your gain or l..
Suppose it costs $30 for each lobster trap set. Lobsters sell for $15. If X traps are set, the harvest rate of lobsters, L, as a function of the number of traps, is given by: L = 45 X –X2. With no restrictions on the number of traps, and open access ..
Leadership in agile project management focuses on _____. Leadership in traditional project management focuses on _____.
Assume the economy starts out at point A. After that, the public anticipates that the Fed will use expansionary monetary strategy to shift the AD curve from AD1 to AD2.
Identify someone in your life who would benefit from taking this course, and explain the reasons why and speculate on what technology might be able to do in 15 years to improve the contracting process.
Depends on the evidence in this article and what you know about the economy in the United States, decide which of these statements is most likely to be true.
List out three policy rules that the Fed might follow. Which of these would you advocate? Why?
price elasticity of demand for stock is 1.5. this means that foe every 10 increase in stock prices the quantity
Compare and contrast the Swedish and American approaches to welfare and other income redistribution programs and policies.
Describe the 3 unconventional approaches used in monetary policy since 2007. Why was it necessary for the Fed to pursue unconventional approaches?
If a nation exports few goods, then it imports, it
Which of the following would cause the supply curve for bread to shift inward?
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