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Q. Under what elasticity conditions would the following be true:
"Increasing the minimum wage will result in a decrease in employment for workers who now earn less than the new minimum wage"?
Suppose the economy is represented by the following equations:Md/P = 6Y - 120r Ms/P = 5,400C = 180 + 0.7(Y-T) I = 100 - 18r + 0.1Y T = 400 G = 400 Y = C + I + G
a. Write the numerical formula for the IS curve?b. Write the numerical formula for the LM curve? a. What is the equilibrium level of r?b. What is the equilibrium Y?c. What is the value of consumption?d. What is the value of Investment?e. What is the level of real Money Demand?
Profits associated with polluting for Friedman Inc. are π = 40Q - 2Q2, where Q = pollution emitted (in tons), and profits are measured in dollars.
Explain what occurs when a new technology makes another one obsolete in terms of economic profit.
How would I find out by how much the price of water needs to be raised to reduce demand by 40% if the price of elasticity is 2.0.
When and where did modern economic growth first happen. What are the major institutional factors that form the foundation for modern economic growth. What do they have in common.
Russian farmers, again, have a poor crop. Their government has announced that they will not ban exports. Discuss the impact on domestic and world prices, consumers and producers the effects of the Russian government's decision.
Consumers buy from the lowest price firm, and the highest price firm sells nothing. If the firms pick the same price, they split the market demand equally.
Consider a small economy in which consumers buy only two goods pies and tarts. In order to compute the consumer price index for this economy for two or more consecutive years.
You can suppose any single peaked preference which you want and Characterize the equilibria of the model.
Repeat these calculations for the third, fourth, and fifth years, assuming that the Government taxes at a rate each year and has noninterest expenditures annually.
Assuming fuel is one of the main inputs for many sectors. When a war breaks out in Country X, which is the main producer for fuel in the world, it causes fuel supply disruptions in the world.
The manager of a large automobile dealership who wants to learn more about the effectiveness of various discounts offered to customers over the past 14 months
Interior Department recently announced that it will increase the entrance fees at Yellowstone National Park in order to increase park revenues.
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