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A needy family of a mother and three children currently receives cash benefits that average $12 per day. The mother of this family is allowed to earn an average of $4 per day before her benefits begin to decline. After that, for each dollar earned, cash benefits decline by 67 cents. Plot the recipient's money income-leisure tradeoff (budget) line under these circumstances. Assume that she can find work at $4 per hour. How many hours will she have to work per day before her benefits are eliminated? Assuming that her indifference curves for work and leisure are convex, show her equilibrium allocation of time between work and leisure per day. Show that it is possible to have more than one most preferred outcome.
Suppose the following output and labor hours for Russia and Germany in producing Wheat and Cloths.
One option to balancing the budget yearly or cyclically is to create a government budget that would be balanced if economy were at potential output.
How will each of the following changes in demand or supply affect equilibrium price and equilibrium quantity in a competitive market, that is do price & quantity increase, fall, remain unchanged,
Elucidate how he should use information on the marginal catch at each lake to accomplish this goal. Illustrate what division on the 40 fishers would you recommend.
Suppose further that people want to hold 8 percent of their deposits in the form of cash. Then, if the Fed wants the money supply to be $6,228 billion, what is the necessary level of high-powered money?
Currently one argument against the continuation of state regulation of insurance and one argument.
Describe the economy's stage in the business cycle and evaluate current macroeconomic conditions.
Draw the per capita production function and supporting curves to capture the economy and provide a brief economic explanation of the consequence of lower savings on long- term growth rates.
What was the cross-exchange rate between the Real and the Peso in 2001? Real____/Peso. What was cross-exchage rate between Real and Peso in 2002? Real_____/Peso.
All semester we have been tracking the economy to discern where it currently resides along the business cycle and where it seems to be headed over the next 6-9 months.
Utilizing an aggregate supply and aggregate demand diagram, show why this self-correcting process involves only temporary periods of inflation or deflation.
A large rear dump truck working in a coal mining operation under good conditions has a present purchase price, compute the estimated repair cost per operating hour.
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