Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Economics
1. What would happen if prices were lowered when demand was inelastic is that this would make the product elastic and the demand would increase for it. A real-world example is that of computer. If it is at $399, but if it becomes higher than $899, people may stop buying it. Furthermore, if prices were raised, then the demand would become inelastic. For example, a person may buy a flat screen television for $800, but if it is at $1,500, people are not going to buy it at that point.How would total revenue be affected?
2. Proportion of income is another straightforward determinant of the price elasticity of demand. For example, audio CD's would account for a relatively small proportion of most consumers' incomes. In contrast, so-called "big ticket" items, such as automobiles and appliances, account for a relatively large portion of most consumers' incomes.
What questions or comments do you have on the determinant of the price elasticity of demand referred to as proportion of income? Do the goods/services produced at your workplace account for a relatively small or a relatively large portion of most consumers' incomes? How would the proportion of income accounted for by the price of a good/service affect the price elasticity of demand for that good/service
Compute the producer surplus from parts a and b. Are producers better or worse off as a result of international trade? Discuss why.
Suppose there is an increase in risk aversion by wealth holders in the sense that, other things equal, they want to hold more of their wealth in money (bank deposits) and less in securities.
Making dresses is a labour-intensive process. Indeed, the production function of a dress-making firm is well described by the equation Q = L - L 2 /800, where Q denotes the number of dresses per week and L is the number of labour-hours per week.
Elucidate how does the subsiquent impact on the housing industry.
Explain the effects of these shocks on the price level, real GDP, and the nominal interest rate. Use an upward-sloping, short-run supply curve in your analysis.
Explain how the Central Bank can set the nominal interest rate in the money market. In addition, explain how it can use expansionary monetary policy to boost GDP if the economy is in a recession.
In Bayonne, New Jersey, there is a large beauty salon and a number of smaller ones. The total demand function for hair styling per day is Q=180-10P, where P is in dollars.
Suppose you bought a bag of groceries at Food Lion this past September for $46.54. Calculate the price of a similar bag of groceries in 1999 prices if the CPI
What is the total amount of US government debt as of the time you look it up?
Consumption accounts for about 60% of GDP, while investments accounts for about 20% for GDP. But many economists think that, to understand economic recession, it is more significant to look at investment than consumption. Why?
If you assume that the forward rate is a predictor of the future spot rate, does it suggest that the Dollar should have appreciated or depreciated from 2001 to 2002? (round to nearest integer)
Analyze the factors that influence the banks desired excess reserve ratio, r e . What would happen to the magnitude of r e if:
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd