Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Mary divides her $2,500 income between the consumption of food (X) and all else (Y).
Her preferences can be described by the following utility flU1ction: U = X^2Y^3.
When the price of food is $4 and of all else is $30, she chooses the blU1dle (250, 50).
a. If the price of food rises to $5, how much of each good will she choose?
b. Explain her change in consumption in terms of income and substitution effects (give a precise quantitative answer). Is this a Griffin good (how do you know)?
c. What is her demand curve for food?
Explain how the Central Bank can set the nominal interest rate in the money market. In addition, explain how it can use expansionary monetary policy to boost GDP if the economy is in a recession.
Explain, illustrating with graphs as necessary-be sure that the shape of your supply and demand curves make economic sense.
Fill in the table indicating whether the new Each row and column heading describes a shock to a market initially in equilibrium. Fill in the table indicating whether the new equilibrium price and quantity will increase, decrease, or not change.
Make an example of a comparative advantage model by 'choosing two countries and two products.
Describe the major difference between the law of demand and the law of supply. Consider the supply and demand schedules below.
What is the amount of loans from rest of the world? What is the current account balance? What is capital account balance?
Explain why a monopolist will never set a price (and produce the corresponding output) at which the demand is price-inelastic.
Assuming that there are only two goods, and the other good (food) is capital intensive, show the equilibrium points of production and consumption in ALFA, before and after trade.
What are the macro and micro problems? What systems are affected structural, psychosocial, technical, managerial, goals?
Compute the path of the economy, that is , calculate real GDP, the price level, the inflation rate and real money stock for each year until GDP I swithin 1% of the potential. (limit calculated values to 10 decimals points)
Suppose there is an increase in risk aversion by wealth holders in the sense that, other things equal, they want to hold more of their wealth in money (bank deposits) and less in securities.
What happens to the demand for pizza if the price of that product decreases? What happens to the supply of tomatoes if the wages of tomato pickers increase?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd