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You have a part time job that pays $8 per hour. Your manager has asked you to work 4 extra hours on Friday night, but you already have plans for dinner and a movie with a friend on Friday night. Under what conditions will you choose to work on Friday night? Consider the economic way of thinking in answering this question; also assume that you are rational (even if you do not think you are rational) and can afford dinner and a movie.
A) You value the Friday night activities more than the extra pay (in terms of marginal benefits, marginal costs, and your utility).
B) You think the Friday night dinner will be expensive.
C) You have already seen the movie that has been chosen for Friday night.
D) You value the extra pay more than the Friday night activities (in terms of marginal benefits, marginal costs, and your utility).
Suppose you want to infer expected future exchange rates in a less-developed country that has free-market-determined interest rates but does not have a forward exchange market. Is there any or way of inferring expected future exchange rates. Unde..
When and where did modern economic growth first happen. What are the major institutional factors that form the foundation for modern economic growth. What do they have in common.
You are organizing a group of people to visit a state park for a day trip. You have to rent cars and hire drivers for the transportation. If you rent C cars, and hire D drivers, your utility function is U=min(C, D), because you have to find one drive..
Explain how externalities, public goods, and asymmetric information are all problems with private property rights.
A trucking company computes depreciation on its vehicles by a mileage basis. Suppose a delivery truck has a cost of $20,000, a salvage value of $2,000, and an estimated useful life of 200,000 miles. Determine the depreciation rate per mile.
Theories about child rearing go back thousands of years, yet developmental psychology is only about a century old. How has psychology been impacted by the philosophical and religious theories of child rearing.
q1. what are the three most important factors driving economic growth? explain briefly using an appropriate example.q2.
A product earns an annual gross revenues of $90,000, the variable costs is $60. The fixed cost are $30,000 and the product is sell for $90. The quantity of product sold last year was $1000. The annual profit is most nearly:
If the growth rate of the money supply is 6?%, velocity is? constant, and real GDP grows at 4?% per year on? average, then the inflation rate will be what %? If the growth rate of the money supply increases to 18?%, velocity is? constant, and real GD..
Elucidate how much of the tax is borne by consumers also Elucidate how much by producers. Illustrate what is the new CS also PS.
Suppose that we are testing whether five population means are equal to each other. We would normally use ANOVA for that, but suppose that we carry out separate hypothesis tests in which we compare the five means to each other, two at a time. Using a ..
Illustrate in a fully labeled graph the market for information security specialists. Show the market equilibrium wage and quantity (you may just note this in your graph with a “w” and “q” or you may make up a price and amount). Due to a recent increa..
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