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You have $21,512.72 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $240,000. You expect to earn 14% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations.
Recently, the House of Representatives passed legislation to increase the minimum wage in the nation from $5.15 to $7.50. What are the pros and cons of this proposal? Provide an analysis based on the demand and supply of labor.
According to Friedman, is the most effective method of destroying a free market?
Define economic growth, and explain what it means in terms of standards of living. Explain how a technological advance can contribute to economic growth. Why do institutions such as private property rights promote economic growth?
An engineer borrowed $3000 from the bank, payable in six equal end-of-year payments at 8%. The bank agreed to reduce the interest on the loan if interest rates declined in the United States before the loan was fully repaid. At the end of three years,..
What are some examples of the financial crisis in Greece and the potential market problems because China's economy is fuelled by construction of cities that remain un occupied. We need to discern the financial condition of the world and look at dolla..
Develop a preliminary set of arguments you will present and anticipate the counter-arguments you can expect to encounter; make a list
Suppose you are the manager of a restaurant that serves an average of 400 meals per day at an average price per meal of $20. Compute the price elasticity of demand between these two points. Compute total revenue at the three meal prices
A goatherd has the cost function c(y) = 2y2, where y is the number of tubs of goat cheese she makes per month. She faces a competitive market for goat cheese,with a price of $40 a tub. How many tubs should she produce per month?
At a product price of $52, will this firm produce in the short run. Illustrate what will profit or loss be. Complete the following short-run supply schedule for this firm.
Consider the Romer model. If the percentage of the population engaged in ideas formation (l) (bar) decreases, what are the short and long term impacts of this shift on Y?
Draw a new supply and demand graph showing what happens in the market for fuel efficient cars if only part c) has occurred. Label both old and new equilibrium P and Q.
What are the two types of information available to complete the budget? Describe the benefits and disadvantages of them and give an example of each.
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