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Suppose a consumer has preferences over two goods that can be represented by the quasi-linear utility function The marginal utilities area) Is the assumption that more is better satisfied for both goods?b) Does the marginal utility of diminish, remain constant, or increase as the consumer buys more ? Explain.c) What is the expression for ?d) Is the diminishing, constant, or increasing as the consumer substitutes more for along an indifference curve?e) On a graph with on the horizontal axis and on the vertical axis, draw a typical indifference curve (it need not be exactly to scale, but it should accurately reflect whether there is a diminishing ). Indicate on your graph whether the indifference curve will intersect either or both axes.f) Show that the slope of every indifference curve will be the same when What is the value of that slope?
Earlier this year the increasing price of tortillas resulted in major protests in Mexico City combined with a warning from Mexican central bank that this may fuel rising inflation.
Describe the two key tools of monetary policy, and explain how they would be used by the Bank of Canada to implement a contradictory monetary policy.
Compute the employment rate and the level of productivity for each year and for each five-year period, compute the percentage change in the labour force, the employment rate and the level of productivity
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You all hear on TV every day or so that the United States customers has been holding up and kept our economy going.
Suppose there are two states that do not trade: Iowa and Nebraska. Each state produces the same two goods: corn and wheat. For Iowa the opportunity cost of producing 1 bushel of wheat is 3 bushels of corn. For Nebraska the opportunity cost of prod..
Show the changes to the T-accounts for the Federal Reserve and for commercial banks when the Federal Reserve buys $50 million in U.S. Treasury bills.
Explain why do people who work at investment banks earn so much. What is the justification for capital requirements imposed by bank regulators.
Find the Present Value of each of the two following sets of cash flow events and what is the total interest chargeable in each mortgage?
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