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If the federal government runs a surplus
a) expenitures exceed taxes
b) receipts exceed disbursements
c) debt must be issued
d) the federal reserve buys bonds
What is the allowable depletion charge using the percentage depletion method for year 1 only of the salt mine investment described below. The applicable rate for the percentage depletion method is 10%. Cost to acquire mine rights = $30,000
Explain why do we consider a business-cycle expansion different from long-run economic growth. Why do we care about the size of the long run growth rate of real GDP versus the size of the growth rate of the population.
Fisher's utility function for trout (T) and salmon (S) is given by U = ST, where the MUT = S and MUs = T. Which set of consumption bundles lies on the same indifference curve?
Provide one quote and its context for both a positive and normative statement. Evaluate the statement choices of your fellow students.
Explain how central bank manages a nation's monetary system. Outline stated direction of recent monetary policy in United States.
The recent immigration of labor into the United States from Mexico has led to increased calls for new restrictions on this movement of labor (including greater enforcement of existing restrictions). What would be the costs and benefits to the United ..
How much have global trade and global production (gross national income) grown since World War II? What parts of the world economy have grown fastest in the last 20 years? (Be able to name some countries)
Compute Opulenzas current account. Is CA a deficit or a surplus. Explain intuition for C4 deficit/ surplus in terms of savings in Opulenza, financial flows and its domestic/external wealth position.
Suppose that the natural rate of unemployment in a particular year is 4 percent and the actual rate of unemployment is 11 percent. Use Okun’s law to determine the size of the GDP gap in percentage-point terms. If the potential GDP is $500 billion in ..
A 50-kilowatt gas turbine has in investment cost of $40,000. It costs another $14,000 for shipping, insurance, site preparation, fuel lines, and fuel storage tanks. The operation and maintenance expense for this turbine is $450 per year. Additionally..
Supposre that there are equal numbers of each customer type, and that the MC of the iphone is $100."
Explain the practical effect of price controls on product and service availability, quality and true cost. What is the full impact of rent controls? On whose behalf are they imposed? Who are the winners and who are the losers? What is the impact of p..
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