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The President of the United States receives an annual salary of $400,000. Aaron Judge, outfielder for the New York Yankees and the American League Rookie of the Year in 2017, will receive an annual salary of $622,300 million in 2018. Based on marginal productivity theory and assuming these markets are competitive, this salary differential indicates that: a. Aaron Judge contributes much more to society than does the President of the United States. b. the President of the United States contributes much more to society than does Aaron Judge. c. Aaron Judge and the President of the United States make equal contributions to society. d. the salary differential between Aaron Judge and the President of the United States indicates that their marginal productivities cannot be compared.
What are the primary functions of the foreign-exchange market? Who are the participants in the market? How do global companies use the foreign-exchange market to hedge against foreign-exchange risks?
Derive the Pareto Optimal Conditions in a perfectly competitive world of two individuals(A and B), two goods (X and Y), and two inputs (L and K): (a) Utility Maximization, (b) Optimal Allocation of Resources, (c) Economy as a whole.
In class we looked at cost curves. Explain why the marginal cost curve intersects the average total and variable cost curves at their respective minimum values: At what point on the ATC will a perfectly competitive firm always produce long-run in the..
How do you think this elimination of trade barriers affected EU output?
Assume the required reserve ratio equals 12%. Find the maximum deposit expansion using the deposit multiplier formula. State what happens to the a) excess reserve to deposit ratio, b) bank loans to the public, and c) the money supply. State what happ..
Using the mid-point method, calculate the price elasticity of demand from Point A to Point B. Show the steps of your calculation. Suppose John operates his sandwich stand at the portion of the demand curve between Points A and B. If John would like t..
Looking at all commercial banks in the United States, _______ is the largest category of liabilities.
How would an administrator using the AAA framework address the issue of availability?
Wildcat Oil in Kasakstan Rough order-of-magnitude estimation of total facility cost and annual revenue. Option for NPV and different size facility.
Assume there is a Worker who has a utility function over money income m and leisure l is u(m,l)=(m*l)^1/2. This worker choose how many hours to supply to the labor market where h=16-l subject to the market hourly wage w.
If the reserve ratio is 0.6?, the simplified money multiplier will be ?(round your answer to two decimal places?).
The well known nationally syndicated columnist David Broder reported the recent findings of two academic political scientists. These scholars found that voters are quite turned off by “negative campaigns” of politicians. Many people went as far as no..
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