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The Russian air force is being called on this year to intercept storms advancing on Moscow and to seed them with dry ice and silver iodine particles. The idea is to make the snow drop on villages in the countryside instead of piling up in Moscow. The cost of this initiative will be 160 million? rubles, and the savings in snow removal will be in the neighborhood of 270 million rubles. The exchange rate is 30 rubles per dollar. Comment on the hidden costs and benefits of such a plan from the viewpoint of the villagers in terms of dollars.
Utilize economic theory to analyze the likely labor-marketplace effects of the growth in these awards, assuming that the wages in these jobs stay constant.
Suppose a 3% fall in the price of strawberries increases the quantity of strawberries demanded by 4% and increases the quantity of chocolate demanded by 2%. Using this information, calculate the price elasticity of demand for strawberries at the orig..
The recent recession seems to be ending, the number of people with jobs is expanding, and it appears that wage levels are beginning to increase. Based on market changes, what changes would you anticipate experiencing in your firm’s revenue and cost c..
Explain the difference between positive and normative economics and how this affects ethical decision making. How would this situation be described in terms of Positive economics? Which of these do you think is the correct way to describe this situat..
Take a sample of thirty households from two counties A and B and collect data on their incomes for the past month. The information obtained (in thousands of dollars) and their corresponding frequencies is given below:
What is the maximum amount of good Y that can be purchased if X and Y are the only two goods available, and individual income is $600, Px=15 Py=10, and they are already purchase 30 units of good X?
What are the different arguments used by the US and Chinese governments about the renminbi's exchange rate? Do you think that the renminbi is overvalued against the U.S. dollar? After the July 2005 reform, what was China's exchange rate system?
Draw a graph of the supply of and demand for euros (in terms of Swiss Francs). Diagram the effect of each of the following on the exchange rate (SF/Euro). Explain your reasoning. A rise in euro interest rates. Goods are more expensive in Switzerland ..
N firms compete in a perfectly competitive industry. Market demand Q, for a good is given by Q=3000-50P, where P is the market price. For each firm I, the long run total cost function , C(qi) is: What is the long-run supply curve for an individual f..
illustrate what are short-run and long-run effects on aggregate price level and aggregate output. There is an increase in taxes on households. There is an increase in quantity of money. There is an increase in government purchases.
Illustrate what happens to the demand curve for turkey in the u.s. In November. What happens to the curve after the holiday. Why do these changes occur.
Illustrate what is the unemployment rate. Karen sharpens knives in her spare time for extra income.
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