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Recently, a bank was trying to decide what fee to charge for "expedited payments"—payments that the bank would transmit at a faster speed to enable customers to avoid late fees on cable TV bills, electric bills, and the like. To try to determine what fee customers were willing to pay for expedited payments, the bank conducted a survey. It was able to determine that many of the people surveyed already paid fees for expedited payment services that exceeded the maximum fees that they said they were willing to pay.
Analyze how does the bank's finding relates to economists' traditional focus on what people do, rather than what they say they will do.
q1. are recessions a necessary fact of macroeconomic life? if not illustrate what would it take to eliminate them? if
The Economic Policy Institute periodically issues reports on wages of entry-level workers. The institute reported that entry-level wages for male college graduates were $21.68 per hour and for female college graduates were $18.80 per hour in 2011.
George W. Bush was elected president in 2000 and his administration conducted fiscal policy together with the monetary policy conducted by the Fed responding to the recession. Although the fiscal policy conducted by the Bush administration successful..
Distinguish between liberal economics and conservative economics. Why is macroeconomics an inherently political subject? Summarize the problems that can be created by rapid inflation. How can inflation become self-perpetuating?
Evaluate why only the convexity of preference relation cannot guarantee that the indifference curve is strictly convex to the origin.
Average visit per week equal 640 when the copayment is $40 and 360 when the copayment is $60. Calculate the percentage change in visits, percentage change in price, and price elasticity of demand using 640 and $40 as the denominators for percentage c..
Suppose that consumers become pessimistic about the future health of the economy, and so cut back on their consumption spending. What will happen to aggregate demand and to output? What might the government have to do to keep output stable?
Suppose Mary’s utility function for two goods X and Y is given by: U(X,Y) = 2X1/2Y1/2. Suppose consumption bundle A consists of 10 units of X and 10 units of Y, and consumption bundle B consists of 20 units of X and 5 units of Y. Consumption bundle A..
What is the impact of the trade surplus or trade deficit upon the interest rates and currency exchange rates.
The federal government calculates the budget on a fiscal year that begins each year on October 1 and ends the following September 30. At the beginning of the 2005 fiscal year, the Congressional Budget Office [CBO] forecast that the federal budget def..
discussions facility costs please respond to the following suppose you have been working with the federal government
The output level at which the aggregate demand curve intersects the aggregate supply is Saving zero. Macro equilibrium is achieved. Full employment is sustainable. Micro equilibrium is achieve
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