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Suppose the savings rates by income quartiles in Indonesia are given by the following:1st quartile - 5% savings rate2nd quartile- 7% savings rate3rd quartile- 10% savings rate4th quartile - 20% savings rate
A). Illustrate the above relationship between income and savings rate using a graph with income on the x-axis and total savings on the y-axis.
B). Will a government policy to redistribute income to achieve less income inequality potentially help or hurt growth in this case? Illustrate your answer graphically.
Analyze five reasons why demand for this product could shift and analyze five reasons why supply could shift.
Obtain Income elasticity of demand and Calculate the quantity demanded for goods 1 and 2 at these prices and this income level.
Write down some similarities and differences between monopolies and oligopolies. How would you classify Microsoft? How would you classify the power industry in your area?
What are the equilibrium rent and number of rooms? If the college puts a rent ceiling on rooms of $650 a month, what is the rent and how many rooms are rented?
Use a principle, or principles, discussed in the course to explain some pattern of events or behaviour that you personally have observed.
A country with fixed quantities of resources is able to make any of the following combinations of bread and ovens.
Suppose the price that year rose by 8% and the real rate of return in the stock market was 4%. Your friend says she or he was being more than fair giving you more than the rate of inflation as a return, What do you think and Why?
market power may produce a level of output greater than its profit maximizing level of output to gain market share and block entry of new firms. What challenges does the firm face to sustain this practice?
Pick a social problem where free markets aren't allowed to function and explain how free market features could be introduced to aid alleviate the problem.
Evaluate price elasticity of demand
Explain why Monopolistically Competitive firms charge different prices for their products and Oligopolies tend to all charge the same price. Explain why all businesses do not Price Discriminate.
Let us assume that an economy in which there is no widely agreed upon form of money. In other words, suppose we are dealing with a barter economy.
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