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In 1800, the federal bureaucracy was relatively small with only a few thousand employees. Describe how the bureaucracy grew from a few thousand employees to the size it is today. Also, discuss how the bureaucracy is organized and how government employees are hired.
q1. if a monopolist has an own-price demand elasticity of -.8 is it maximizing profits? explainq2. what are some
Evaluate how sale of novels would change during a period of rising incomes. Assess probable impact if competing publishers raise their costs.
Reed can work up to 5000 hours per year at $8 per hour. He does not have any non-labor income. Draw his budget constraint for leisure (L) and consumption (C). Suppose that Reed was working 3000 hours per year before the intervention. What do you thin..
Suppose the demand for pizza is given by Q=40-2P and the supply of pizza is given Q=P-8. if the price of pizza is $19, Illustrate which of the subsiquent is true.
An economist estimated that the cost function of a single-product firm is
Suppose one economist believes the target rate of unemployment is 4.2 percent while another believes it is 5.3 percent. Using Okun’s rule of thumb, by how much would you expect their estimates of potential GDP to differ in an $11 trillion economy?
Kath has $80 (income M) to spend on pizza (good 1x) and coke (good 2x). The price of a slice of pizza is $4 and the price of a can of coke is $1. Formulate the intercept-slope equation of Kath’s budget line. Assume that, other things being equal, piz..
Imagine that you work for the maker of a leading brand of low-calorie, frozen microwavable food that estimates the following demand equation for its product using data from 26 supermarkets around the country for the month of April. Note
What is happening to the value of the U.S. dollar these days? What causes the value of the U.S. dollar to rise or fall? Who demands U.S. dollar? Who supplies U.S. dollar? When we purchase German products, does our demand for euro go up or down? What ..
When one person saves which person's wealth is increased, meaning which he or she can consume more in the future. But when everyone saves, everyone's income falls, meaning which everyone must consume less today. Explain this seeming contradiction
On February 1, the Miro Company needs to purchase some office equipment. The company is short of cash and expects to be short for several months. The treasurer has said that he could pay for the equipment as follows.
Suppose you have been assigned to complete a group project with one of your classmates. Each of you can choose to Shirk or Work. If one or more of you chooses to Work, the project is completed and provides each with extra credit valued at 4 payoff un..
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