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As noted in the video Stalag 17 and in your readings, many things have been used as money over time: cigarettes, gold, paper currency (like the U.S. dollar), etc. Describe the functions of money and consider the U.S. dollar as an example. Although the U.S. dollar has little or no intrinsic value, why do people want it so much? Can you think of other examples of things that act as “money” in our society?
Suppose that the price of good X is $10, the price of good Y is $20, and our income is $100. a. What is the maximum amount of good X you can buy? What about good Y? b. Write down your budget constraint and solve it for Y. c. Sketch a graph of your bu..
You work for a hotel chain that is considering expanding into international markets and you are looking for the right person to help oversee that process. You identify a top employee at another firm who seems to have exactly the skill set needed to h..
Suppose the Stimulus package (The American Recovery and Reinvestment ACT of 2009) for $787 was allocated for spending in all 3 components of the AE model of Keynesian Macro model (RGDP = C+I+G); where they spent the bulk of it in G (government expens..
Write a simple PhP Code that can be used to select all data in the codeigniter framework in the model section?
Suppose that Grinch and Grubb go into the wine business in a small country where wine is difficult to grow. The demand for wine is given by P=$360-0.2Q , where P is the price and Q is the total quantity sold. The industry consists of just the two Cou..
At what level of output will this firm maximize profit. Elucidate what is the level of profit for every unit of output produced at equilibrium.
Using a graph explain the welfare impact of tariff on domestic consumers, producers, government, and national welfare in a) a small country b) a large country.
What happens if the price floor is above the equilibrium? and what happens when price ceiling is below the equilibrium?
In the last year, what is an example of something you have done that can be considered a socially responsible effort? How do you think this has helped your community?
What appears to be major constraint that central banks used to determine limits of monetary injections into economy. Did United States use same or different criteria.
The purpose of this problem is to study the sacrifice ratio. Assume that initially actual and natural real GDP both equal 11,000 and that the rate of inflation is 3.5 percent.
Consider the expectations theory (of the term structure) with a term premium. What is the interest rate on a 5-year bond today if the term premium for a 5-year bond is 2% and 1-year interest rates are expected to remain constant at their current leve..
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