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Suppose the demand for golf at a country club is Q = 80 - .5P and MC = $40. How many rounds of golf will a member buy and how much could the club charge as an annual membership fee? Draw a diagram.
As a manager of a chain of movie theaters that are monopolies in their respective markets, you have noticed much higher demand on weekends than during the week. You therefore conducted a study that has revealed two different demand curves at your mov..
Which of the following is a rate that should theoretically serve as a floor for the Fed funds rate? A dealer is said to be running a "matched book" if. An increase in the supply of reserves in the banking system leads to an increase in the Fed funds ..
Why is it important to adjust for inflation when comparing nominal quantities at different points in time. What is basic method for adjusting for inflation.
If the price increases by 10 percent, by how much does the quantity of household (a) natural gas and (b) electricity change in the short run and in the long run?
Why is the concept of elasticity important? What does it tell economists? Tell whether you would classify automobile production as either elastic or inelastic in the short run and long run. (Keep in mind that we are talking here about supply elastici..
Is there much research into the long term impacts of government fiscal contractions. I have heard about 2nd generation unemployed as a result of Thatcher's policies but that is very much anecdotal. What does the literature have to say on the matter?
Other things equal, what effects would each of the following have on aggregate demand or aggregate supply? In each case use a diagram to show the expected effects of the equilibrium price level and the level of real output.
Choose any two of the numerous Great Society programs that were initiated ruing the 1960s; explain the intent of those two programs. Then, give a substantiated assessment (-.gov sources work well for this) of how successful those programs have been i..
Two hunters went out into the forest to hunt for deer. Each take their position in the forest, and wait for the stag to come by. But as they are standing there, a rabbit runs by each (not necessarily at the same time), and each considers leaving his ..
Consider the following possible schemes for taxing a monopoly: Explain how each of these taxes would affect the monopolist's profit-maximizing output choice. Would the tax increase or decrease the deadweight loss from monopoly?
A central bank that adopts a fixed exchange rate system may sacrifice its monetary autonomy in setting its domestic monetary policy.
Do Bill Easterly and Jeff Sachs agree or disagree over the impact of imperialism and colonialism in the past on the situation in poor countries today? Be sure to explain both positions. Which position is more persuasive? Why? Explain.
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