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Barry earns $20 an hour for up to 40 hours of work per week. He is paid $30 an hour for every hour of work in excess of 40. There are 110 hours a week available for work. Draw Barry's budget line for these facts. Label completely.
What variables would be on the axis of this graph. Would the line budget line be going from left bottom to top right?
Illustrate what are the production elasticities of demand for labor, capital (trucks) and energy. What type of returns to scale is consistent with the above production function.
Fiscal policy refers to the use of government expenditures or tax policy to influence the aggregate demand for a specific purpose.
As per fiscal policy makers increase the budget deficit, monetary policy makers should increase the money supply
Assuming that you get a summer intern job and a recession began while you are there. Write a memo to your boss, who is a member of Congress.
Assume a typical customer’s inverse demand function for bottled water at a resort area where one firm owns all the rights to a local spring is given by P = 15 - 3Q.
Hurricane Katrina was a natural disaster that would have had an impact in the United State economy. What effect would Hurricane Katrina have on aggregate demand or aggregate supply, other things being steady?
Compute profit-maximizing output, price, and profit levels and Use the Lagrangian multiplier method, compute profit maximizing output, price, and profit levels in light of a parts shortage that limits output
The US as well as Canada have intervened in the market and tried to internalize some of the costs of pollution by placing regulations on the amount of pollutants that industries can emit.
Allied Box offers mail order storage containers for fine china producers. The firm is low-cost provider of these boxes with fixed cost of $480,000 per year,
Compare and contrast between internal and external growth strategy. Identify a range of factors which might estimate whether an internal or external strategy is pursue such a growth strategy.
Assume that your shareholders own only U.S. stocks. Would you expect an overseas investment to have above- or below-average risk for them.
Determine the four phases of the business cycle? How long do business cycles last and how do seasonal variations and long-run trends complicate measurement of businrss cycle?
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