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In a simple economy, suppose that all income is either compensation of employees or profits. Suppose also that there are no indirect taxes. Calculate gross domestic product from the following set of numbers. Show that the expenditure approach and the income approach add up to the same figure.
The shaft ABC is attached to rigid walls at A and C. The torque T0 is distributed uniformly over segment AB of the shaft. Determine the reactions at A and C.
The bond fund manager forecasts that, in four years, the 15-year bond will sell at a yield to maturity of 6.45% and the 20-year bond will sell at a yield to maturity of 6.70%. The bond fund manager also expects that the coupons can be reinvested a..
Suppose that the residents of Vegopia spend all of their income on Cauliflower, broccoli, and carrots. In 2008, they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for $75, and 500 carrots for $50.
Assume that there is no substitution effect from changes in wages. Use two graphs to show the effects of the increase in the wage on the quantity of labor demanded.
What is a dimension table? What types of data are stored in dimension tables?
How do North and Thomas define efficient institutions
Consider the expanding variety model of Section 13.1 and denote the BGP growth rates of consumption and total output by g∗C and g∗, respectively.
Compute the change in the number of unemployed from the first number in the table to the most recent month in the table. Do the same for the number of employed workers. Is the decline in unemployment equal to the increase in employment? Explain in..
Assuming that people hold no currency, what happens to each of these values if the central bank changes the reserve requirement ratio to 3%, banks still want to hold the same percentage of excess reserves, and banks don't change their holdings of ..
Will you change your preferred mode of transportation if your wage rate rises to $20 per hour. Assume you work five days a week and time spent riding on a bus or driving a car does not directly enter your utility.
Which auction should you choose to maximize your profit? The first-price bidders shade their bids by 20% of their evaluation of its value. The second-price bidders all utilize the optimal strategy for second price auctions stated in the textbook.
You are the manager of a firm that sells a "commodity" in a market that resembles perfect competition, and your cost function is C(Q) = Q + 2Q^2. Unfortunately, due to production lags, you must make your output decision prior to knowing for certai..
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