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1. (The National Economy) Why do economists pay more attention to national economies (for example, the U.S. or Canadian economies) than to state or provincial economies (such as California or Ontario)?
2. (The Human Body and the U.S. Economy) Based on your own experiences, extend the list of analogies between the human body and the economy as outlined in this chapter. Then, determine which variables in your list are stocks and which are flows.
The local economists estimate that Y is equal to $12,000 and Monopoly has set Pc at $10. If Monopoly's MC of serving another customer is equal to $1, what is the profit maximizing price for seasonal passes. Monopoly Rinks is the only ice skating fa..
Assuming the industry is unregulated, what are the equilibrium price and output and economic profits earned by Widget Corp. b. If the industry is regulated and the regulatory authority forces Widget Corp. to earn only a normal return on investment
What is Shelly's marginal rate of substitution when L = 100 and she is on her budget line? (c) What is Shelly's reservation wage? (d) Find Shelly's optimal amount of consumption and leisure.
What are the pros and cons of each from a government perspective?
Harvey wanted to start his own business so he quit his job at Winona State University where he earned $98,000 a year. He figured his entrepreneurial talent to be worth $15,000 a year.
The arrival of a new budget airline on the scene.
Using a noninformative prior, derive the marginal posterior p jy/.
If a country is not specified, you can assume the action is performed in the United States.
Before the income is spent, it can either be kept in money or bonds. Money yields no interest. Bonds yield a yearly interest of 4%, but a transaction fee of 18 has to be payed each time bonds are sold. Use the Baumol-Tobin model of money demand to ..
Plot the frequency response and compute the low-frequency gain and the -3-dB bandwidth.
1. Determine the equilibrium price and quantity in each country when the two countries are able to trade. 2. Calculate the consumer surplus, producer surplus, and total surplus for each country when the nations are able to trade
The Mexican peso is trading at 10 pesos per dollar. If the expected U.S. inflation rate is 2% while the expected Mexican inflation rate is 23% over the next year, given PPP, what is the excpected exchange rate in one year
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