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John and Peter both want to save some money. John decides to save $1,000 every year in an account that pays 4% interest per year compounded annually. Peter is a little less organized and doesn’t get around to depositing money into his savings account, which also pays 4% interest per year compounded annually, until 5 years later. He thinks he’ll try and make up the time by depositing $1,400 into the account every year from then on. How much will be in each person’s account at the end of 20 years, counting from when John started saving, compared to the total amount that each person put in?
Do you agree or disagree with the following statement? "Politicians would make more rational economic decisions if they weren’t running for re-election every few years.” Are there any benefits of making politicians go up for re-election?
Use a production possibilities frontier to illustrate the production options. Be sure to label your drawing. Identify a point that is efficient.
Discuss and post what solution might there be for these people who lack access to computers. Recalling that the definition of perfect competition refers to a market with many buyers, among other factors, thus, how may these people gain access to the ..
Illustrate what is the average time in the system. Illustrate what is the probability there are more than three cars in the system.
The key condition for equilibrium to occur in a market is: A. the demand curve equals the supply curve. B. quantity demanded equals quantity supplied. C. price equals quantity. D. demand for one good equals demand for all other goods.
The Heckscher-Ohlin model is about how factor abundance/scarcity affects trade. Consider factors such as capital, skilled labor and unskilled labor. It is usually held that developed countries are relatively abundant in capital and skilled labor, and..
Derive an expression for average cost. Derive an expression for marginal costs. Is there any range of production characterized by scale of economies? At what production level are scale economies exhausted?
The existing equipment will be sold for $6,000. Illustrate what is the first cost that should be used.
Name the top three largest trading partners with the United States. Which countries (if any) do we have a trading deficit? Or any of them (roughly) trade balanced?
Describe the differences between shortages and scarcity. In answering this question you should think difference between the short run and the long run in economic analysis.
Mar ´ia lives in the beautiful country of Inflationlandia. She earns 30 million pesos a month. She only consumes hamburgers and buns. The price of a dozen hamburgers is 2 million pesos and the price of a dozen buns is 1 million pesos. Graph her budge..
Elucidate how can you derive an equation describing labor demand in this economy as a function of the real wage also capital stock.
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