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a) To reduce the construction of big luxury apartments, the Chinese government requests that at least 70% of the new apartments must not exceed 90 square metres. Use a diagram to show and explain how this policy affects the equilibrium price and quantity of small- and medium-sized apartments (i.e. apartments of no more than 90 square metres) in China.
b) Suppose the Chinese government imposes a binding (i.e. effective) price ceiling on small- and medium-sized apartments. Explain with a diagram what will happen to the consumer surplus, the producer surplus and the total surplus.
Use the following economy for the next 15 questions. Use 2009 as your base year for any calculations where a base year is needed. What is the growth rate of nominal GDP for 2008? What is the inflation rate for 2008? What is the inflation rate for 20..
question 1 of 2 exchange ratesintroductionsuppose the u.s. federal government adopts the policy of whats good for
A large city in the mid-West needs to acquire a street-cleaning machine to keep its roads looking nice year round. A used cleaning vehicle will cost $85,000 and have a $20,000 market (salvage) value at the end of its five-year life.
Mike finds a Coke machine in an abandoned part of town and is extremely thirsty; The coke machine requires exact change- Two quarters and a dime. No other combination of coins will make anything come out of the machine. Draw a graph that illustrates ..
"In a recent 'earnings call,' a teleconference call to shareholders in which the CEO reports and discusses quarterly earnings per share, Coca-Cola's CEO Muhtar Kent bragged about 'winning' market share from rival beverage company PepsiCo. The WSJ rai..
Evaluate and explain as accurately as you can the manner in which each of the following individual or party would be affected by fairly rapid inflation? a) A department store assistant manager. b) A pensioner who receives fixed monthly income.
A bank has the following data on the gender and marital status of 400 customers. An experiment consists of selecting one of these customers at random. What is the probability of selecting a customer who is single? What is the probability of selecting..
At what prices is the demand elastic? In what price interval is the demand inelastic? How does revenue change from the elastic to the inelastic zone of the demand?
“The money supply of an economy increases when the central bank simultaneously decreases the reserve requirement and sells government bonds in open market.” Explain whether this statement is true, false or uncertain. Explain what is the inflation tax..
Discuss the international parity conditions. Explain the essence of purchasing parity power. What would happen to purchasing parity power exchange rate if the law of one price were true? What is the difference between the purchasing parity power and ..
You are a manager in charge of monitoring cash flow at a company that makes photography equipment. Traditional photography equipment comprises 40 percent of your revenues, which grow about 2 percent annually. If the own price elasticity of demand for..
From California to New York, legislative bodies across the United States are considering eliminating or reducing the surcharges that banks impose on noncustomers, who make $14 million in withdrawals from other banks’ ATM machines. what would be the n..
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