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You are the Chief Economic Advisor of the President of Dreamland. Right now the country has unemployment of 7.7 % . The country has suffered a severe recession few years ago and it is showing some signs of slow growth lately but lot of people are still out of jobs , federal annual budget deficit is $ 1 trillion a year and a national debt of $16 trillion. Its currency also has lost a lot of value against major foreign currencies creating a backlash from other major trading partners recently. Some manufacturing companies are moving out of the country in search of cheap labor and the ones at home are not doing as good and some big ones like auto are trying to cope well after coming out of bankruptcy . Energy , food and commodity prices are also relatively high and going higher , leading to some inflationary pressure in the economy and the housing market is in trouble with lot of foreclosures leading to a lot of Bank failures . Dreamland is also facing a huge trade deficit and approaching fiscal cliff . The President wants your smart advice. He wants to turn things around real fast and get the economy back on track with your help.
1. Advise your President in detail to save your job and get a good grade.2. What would happen to his attempt to attain a balanced budget ?3. How would the President tell that his economy is approaching equilibrium or getting better ?
Julia must select between two different designs for preventing closure, which will be in use indefinitely. Model 1st has a life of 3-years and cost of $8000, and maintenance of $1000 every year.
Describe how the marginal product for a resource can change. Conclude with an explanation for what can change the demand for a resource.
Discuss how organisations design and build services to attract new and existing customers to buy their services. Refer to the research you have presented previously in your research report.
Problem - Total Cost, Average Cost, Marginal Cost: - Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)
A driver wishes to buy gasoline and have her car washed. She finds that the wash costs $3.00 when she buys 19 gallons at $1.00 each, but that if she buys 20 gallons, the car wash is free. Thus the marginal cost of the twentieth gallon of gas is:
Describe the pricing strategies in monopolistic competition, oligopoly, and monopoly market models. Explain which market structures are price makers and price takers. What is the difference in the demand curves and why.
Draw the AC function on the same graph. What is the firm's long-run supply curve? That is for every price p, how much will the firm produce in the long-run? Which curves are relevant now?
You decided to open a restaurant, named FunMeal. FunMeal is a fast food restaurant with a very limited menu. What is FunMeals elasticity of demand? Is demand elasticity, inelastic, or neither?
Traditionally, two% of the citizens of US live in a foreign nation because they are disenchanted with United States politices or social attitudes. In order to test if this prportion has raised since the September 11, 2001, terror attacks, United Stat..
Why is the demand for water price-inelastic and in those regions where outdoor use of water makes up relatively large portion of total use, the price elasticity is high. Why?
What is the Marginal Cost? What is the Average Cost? What is the optimal production level where production costs are the lowest per unit?
Assume the price of beans rises from $1.00 a pound to $2.00 a pound, quantity demanded falls from 10 units to 6 units. In this example, the demand for beans is said to be ______
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