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Wartimes are usually associated with inflation. According to the Inflation Calculator at www.bls.gov/cpi/home.htm, what would $100 in 1860 be worth in 1865? By how much did prices rise during the Civil War?
On January 2d, 2011, BMW expects to ship 19,000 Mini-Cooper cars from its affiliated plant in the UK to the US, which it will sell through US dealers on 300-day terms at $26,500 each. So BMW will receive payment from its dealers on October 28th
Suppose the price elasticity of cigarette demand is -0.40. If we increased the price of cigarettes by 50%, what would we expect to happen to the quantity purchased? To total expenditures on cigarettes?
how will (a) an unexpected 3% fall in the price level in the goods and services market differ from (b) 1% inflation when 4% inflation had been expected What impact would (a) and (b) have on the real price of resources, profit margins, output, and ..
Use this book only: Fred S. Kleiner's Gardner's Art Through the Ages: A Western Perspective, Volume II (14 th edition)
Assume that Milk is perfectly elastically. If there is a $.20 tax on milk, who will bear the burden of the tax Assume producers have the legal incidence. Graphically depict and describe. Shade the loss in consumer's surplus. and deadweight loss.
After this change, the interest rate is found to be below the equilibrium interest rate. Describe the effect of this level of interest rate on the price of bonds, the need for cash balances, the opportunity cost for holding money.
A monopolist has two types of customers. There are 100 of Type A, who will each pay up to $10 for a single unit of the good, and 50 of Type B, who will each pay up to either $8. Neither is willing to purchase additional units at any price. If it m..
In 1951, Coke used to cost $0.37 for a pack of 6, an average house was worth about $16000, and a car was $1400 to 2200. All these goods are much more expensive now, and yet we buy and consume more of these things today than we did in 1951. Does th..
Calculate the profit maximizing price and quantity in each market.
What are the possible reasons for the price rise mentioned in the news article? Use one demand and supply model to illustrate how bird flu and Christmas season influence the equilibrium price and output in the egg market.
Consider the following data on U.S. GDP: CHAPTER 15 MEASURING A NATION'S INCOME 327 Nominal GDP Year (in billions of dollars) 2009 14,256 1999 9,353 GDP Deflator (base year 2005) 109.8 86.8 a. What was the growth rate of nominal GDP between 1999 an..
The three tools the Federal Reserve Bank (The Fed) uses when conducting monetary policy are the required reserve ratio, the discount rate, and open market operations.
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