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If in 1984, measured GDP in Canada was $400 billion, and in 1985 it was $440 billion,
Explain why we cannot necessarily conclude that the typical Canadian's welfare has improved by 10-percent over the year.
Suppose a consumer has $150 to spend on food and clothing. Food costs $4 per unit and clothing costs $5 per unit. The consumer's utility function is U(c,f) = f^2c. a. Give an equation for the consumer's budget line. b. Give a formula for the consum..
A monopolist faces the following demand curve: P=120-0.02Q-What is the level of production, price and total profits per week?
Some fields have large enough quantities of both oil and natural gas that coordination must be achieved for the production of both, rather than oil a in our examples. Will fields with both oil and gas have greater difficulties in unitization than ..
What are consumption and saving in each period, assuming no borrowing constraints? What happens if the consumer faces a borrowing constraint that prevents her from borrowing?
Illustrate what are the three major categories of expenditures for the federal government. Explain whether or not we should be concerned with net interest outlays and national debt.
Suppose that in Canada the opportunity cost of producing two television sets is three bushels of wheat. Suppose that in the United States the opportunity cost of producing 2 bushels of wheat is 3 television sets.
Why is an increase in the number of varieties of a good regarded as a gain from trade? Can you think of economic disadvantages associated with greater product variety? Explain. Is the distinction between "intra-industry trade" and "inter industry t..
Explain how would you assess the overall financial health of your organization. What are good and bad signs, if any, in your outlook.
Why might it be difficult for the Fed to formally adopt inflation targeting? Would inflation targeting be a good policy for the Fed in the present economic environment
explain alternatives to traditional monetarist devices be identified in modern economies.
If you could identify which the group to that each consumer belong to explain how would you go about setting prices.
Some politicians in countries that are the recipients of large numbers of immigrants advocate adopting laws requiring immigrants to learn the local language within a specified period of time.
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