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Thomas has income of $1500 today and $1000 tomorrow. He can lend and borrow at an interest rate of 10%. There is 10% ina´ation. His preferences for inter temporal consumption are represented by the following utility function U (c1 ; c2 ) = c1 + c2 .
(a) Write down the equation for his inter temporal budget constraint (c1 is his consumption today and c2 is his consumption tomorrow), graph it and label his endowment and the intercepts on each axis.
(b) What is his optimal consumption bundle?
(c) If interest rates increase to 20%, what will be his new optimal consumption bundle? Is he better or worse o§?
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q.suppose a computer virus disables the nations automatic teller machines atm manufacture departure s from bank
The demand and supply curves in the market for college education determine the equilibrium price and quantity of education. Assume the student for college education is given by Dstu = P = 9500 – 500Q and the cost to society to of providing a college ..
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Suppose we refused to sell goods to any country that reduced or halted its exports to us. Who would benefit and who would lose from such retaliation. What could you suggest alternative ways to ensure import supplies.
You are the manager of a local sporting goods store and recently purchased a shipment of 60 sets of skis and ski bindings at a total cost
Explain how a clear and simple Policy Targets Agreement (PTA) might have helped to maintain a low inflation regime with low unemployment in the 1990s while in 2012 a similar regime no longer seems to be achievable under a very different PTA.
q.not having had a contract or a hit during the last 12 months itchy fingers valachi the mafias chief executioner needs
Conclude how fixed and variable costs should be adjusted to maximize profit and identify methods to reduce costs.
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