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Suppose that on Tuesday morning, the Federal Reserve announces that it will conduct an expansionary monetary policy by changing the required reserve ratio from Monday’s value. To expand the money supply, the Fed could set the required reserve ratio at _____ percent. If Republic Bank accepts no additional deposits, then the bank’s excess reserves would be _____.
A. 8...greater than $18,000
B. 10...greater than $18,000
C. 8...less than $18,000
D. 10...less than $18,000
Assume the MTA’s production cost curve is given by C=1,200,000,000 + 3.5q where q denotes the number of subway trips. From past fare changes we know that a 20% drop in fares will increase the number of transit trips by 4%. Calculate the first-best tr..
Some personal computer software is sold at special discounts to students. Other software is provided in a less powerful version for students. Why do publishers offer discounts to students? What is the purpose of developing less powerful editions?
A company specializing in lubrication products for vintage motors produce two blended oils, Smazka and Neftianikov. They make a profit of $5 per litre of Smazka and $4 per litre of Neftianikov. How many litres of each product should they make to maxi..
Suppose that people derive utility from two goods---housing (H) and all other consumption goods(C). Show a typical consumer's allocation of his or her income between H and C.
The consumer optimum: Kati-Lyn has to choose between eating Chinese food and Indian food. Both Chinese and Indian food cost the same. Which of the following equations, where MU is marginal utility and U is total utility, will lead to the optimal leve..
The behavior of almost everyone indicates that people believe they will be better off if they earn a larger income, because a larger income means the ability to acquire more of what they want almost, but not quite, without regard to what it is that t..
If a painter tells you that he would spend $30 on a respirator (but not $31) that protects him from paint fumes that produce a 0.01% chance of killing him? How much cash value would you say that he places on his life?
Suppose a country enacts a tax policy that discourages investment. As a result, the value of the parameter ¯s now goes to a smaller value ¯s ′. Assuming that the economy starts at its initial steady state, use the Solow model to explain what happens ..
As a postgraduate student of economics I've been trying to expand my mathematical "toolset". While doing so I've talked to engineers, physicists and mathematicians, many of which have disdained the use of mathematics in economics. Their arguments var..
Suppose the own price elasticity of demand for good X is -3, its income elasticity is -2, its advertising elasticity is 3, and the cross-price elasticity of demand between it and good Y is -5. Determine how much the consumption of this good will chan..
Prior to opening of trade shoes cost $50 per pair in U.S. and $10 per pair in China. If the price of shoes in U.S. were to fall to $20, U.S. demand of shoes would increase to 60 million pairs and supply would fall to 54 million pairs. What is the int..
What are the 4 types of unemployment? Please explain the current situation of employment in the United States; how does it differ for the long-term unemployed (over 6 months)
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