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A couple in Ruston, Louisiana, must decide whether it is more economical to buy a home or to continue to rent during an inflationary period. The couple rents a one-bedroom duplex for $450 a month plus $139 a month in basic utilities (heating and cooling). These costs have a projected inflation rate of 5%, so the couple's monthly costs per year over a 10-year planning horizon are The couple would like to buy a home that costs $75,000. A local mortgage company will provide a loan that requires a down payment of 5% plus estimated closing costs of 1% cash. The couple prefers a 30-year fixed-rate mortgage with an 8% interest rate. The couple falls in the 30% marginal income tax rate (federal plus state), and as such, buying a home will provide them some tax write-off. It is estimated that the basic utilities for the home inflating at 5% will cost $160 per month; insurance and maintenance also inflating at 5% will cost $50 per month. The home will appreciate in value about 6% per year. Assuming a nominal interest rate of 15.5%, which alternative should the couple select? Use a present worth analysis. (Note: Realtor's sales commission here is 5%.)
How has the government responded to contain and reduce health care spending? What role should government play in controlling the cost of care.
Suppose that the Government wants to augment the level of national savings in the economy and institutes a policy to reward savings behavior. Hence, borrowers face a real interest r as always, but lenders receive r(1+s) on their savings, where ‘s’ is..
Draw the opportunity set of a consumer with an income of $1200 who faces prices of Px = 10 and Py = 5. What is the market rate of substitution between the two goods?
Does a competitive firm’s price equal its marginal cost in the short run, in the long run, or both? Provide specific examples to support your answers. Does a competitive firm’s price equal the minimum of the average total cost in the short run, in th..
The ANOVA table is used to test the null hypothesis that all regression coefficients (excluding the intercept term) are equal to zero against the alternative hypothesis that at least one is different from zero. This test is known as the F test for re..
Two firms compete for consumers who have aggregate Demand x=100-2P. Both firms have constant marginal costillustrate both firms' best response functions & indicate Illustrate what the outcome is for each firms'.
Read "Does a stock market crash affect the economy?" (Layton et al 2012, pp. 364–5) Immediately following the attack on the US on 11 Sept 2001, the stock markets plunged and many observers expected a recession in the US (and possibly elsewhere). Q) U..
A manufacturer of computer chips has a computer hardware company as its largest customer. The computer hardware company requires all of its chips to meet specifications of 1.2 cm. What are the elements that the production manager should consider in d..
All astute comments thus far. Some government projects also programs continue to give benefits for many yrs.
A specific McDonald’s franchise owner is looking at elasticities of Big Macs. E(p)= 2 (Price), E(i)=1 (Income), E(mt)=1.5 (m=Big Mac, t= Taco). The franchise owner would like to increase the price of Big Macs by 6%. If the franchise owner currently s..
The United Nations Environmental Programmed GEO5 Report issued in 2012 founded that "burgeoning populations and growing economies are pushing ecosystems to destabilizing limits." The Report notes a change in emphasis from a focus on environmental "dr..
Walmart has developed quite the name for themselves! While they produce many products, they have still managed to create a strong brand image.
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