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Show a T-account for a bank when you make a deposit of $1000 into your checking account. Assume the reserve ratio is 20%.If the lending process continues as far as it can possibly go, how many deposit dollars will be created from this initial $1000 deposit?
Discuss how is it possible to change society, for Marx, through using relationship between economy on the one hand and the political environment on the other.
A firm with market power produces widgets at marginal cost of $10 per unit and zero fixed costs. It faces demand function given by P = 50 - Q. Find out the marginal revenue for the firm?
Let the utility function be U = log(x) - l, where l is labour and x is consumption. Find the level of labour supply if the wage rate w=10.
Suppose you manage an agency that provides Meals on Wheels to infirm elderly residents in the county. The agency operates three kitchens. Each kitchen is producing one-third of the total meals every day.
Assume government forced a minimum wage above what otherwise would be equilibrium wage rate for this segment of the labor market.
In the summer of 1997, Congress and president agreed on budget package to balance the federal budget. The contract," signed into law by President Clinton in August as the Taxpayer Relief Act of 1997,
How will the programs affect the debt? How will they affect private investment? Is crowding out a concern in the short versus long run as a result of the proposed policies?
Assume you're in charge of the toll bridge that essentially cost free. The demand for bridge crossings Q is given by P = 60 - 2Q. Draw a demand curve for bridge crossings
In what particular ways (if any) does a college education increase a worker's productivity? Take some special care with this problem.
Write down the difference between Equilibrium price and Equilibrium quantity. What role does elasticity place?
Describe the difference between movement along the demand curve and a shift in demand. Provide an example to help the class understand the difference between the two.
Compute the mean and standard deviation of the damage in any year and determine the expected value of X, E(X), and expected value of Y, E(Y).
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