Full-employment level of real output is $250 and the initially the price level is 100. Use the short-run aggregate supply schedules above to answer the questions that follow a)What will be the level of real output in the short run if the price leve..
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Assume an open, mixed economy. That is, foreign trade is part of the economy, and the economy includes both a public (government) and a private (consumers and businesses) sector. Given this, aggregate demand is expressed as (C + I + G + X). Assume..
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Don Ball is a 55-year-old engineer. According to mortality tables, a male at age 55 has an average life expectancy of 21 more years. Don has accumulated $48,500 toward his retirement. He is now adding $5000 per year to his retirement fund. The fun..
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A five-year-old defender has a current market value of $4,000 and expected O&M cost of $3,000 this year, increasing by $1,500 per year. Future market values are expected to decline by $1,000 per year.
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The firm currently uses 50,000 workers to produce 200,000 units of output per day. The daily wage per worker is $80, and the price of the firm's output is $25. The cost of other variable inputs is $400,000 per day.
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What is the income elasticity of demand for kitty litter when P(D)=30,P(C)=20, m=50? What is the cross-price elasticity of demand for kitty litter when P(D)=30,P(C)=20, m=50? Are kitty litter and cat food substitutes or complements?
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b. If the government establishes a price floor of $9, explain what will result in terms of excess demand or supply. c. If the government establishes a price ceiling of $6, explain what will result in terms of excess demand or supply.
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The machine will save $50,000 in labor annually. The machine can be purchased today for $200,00 and will be used for 10 years. It has a salvage value of $10,000 at the end of its useful life. The new machine will require an annual maintenance cost..
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Compare to units, A and B. A has a new cost of $42,000, at life expectancy of 14 years, a salvage value of $4,000, and an annual operating cost of $3,000. B has a new cost of $21,000, a life expectancy of 7 years, a salvage value of $2,000.
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Suppose there are five goods in the economy, A-E. The current-year quantity of each is 10A, 20B, 30C, 40D, and 50E. Current-year prices are $1 for each unit of A, $2 for each unit of B, $3 for each unit of C, $4 for each unit of D, and $5 for each..
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Suppose a family's annual disposable income is $58,000 of which it saves $8000. if their income rises to $64,000 and they paln to ave a total of $9,500 at this income level, calculate the MPS and MPC for this family
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The $75000 outlay will be charged off as an expense by the firm this year (Year 0). The returns estimated from the program in the forms of greater productivity and less employee turnover are as follows (on an after-tax basis):
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