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Suppose that government spending makes private firms more productive; for example, government spending on roads and bridges lowers the cost of transportation. This means that there are now two effects of government spending, the first being the effects of an increase in G and the second being similar to the effects of an increase in the nation's capital stock K.
(a) Show that an increase in government spending that is productive in this fashion could increase welfare for the representative consumer.
(b) Show that the equilibrium effects on consumption and hours worked of an increase in government spending of this type are ambiguous but that output increases. You must consider income and substitution effects to show this.
Why might leasing a new Porsche be good investment for an aspiring Hollywood film producer, even though, he can't easily afford the monthly payments.
Elucidate the common kinked-demand model. In the oligopolist's marginal-revenue curve, elucidate the reason for gap. In this model explain how does price rigidity in oligopoly.
Price elasticity of demand is 1.5 and a firm raises its price by 20 percent the quantity sold by the firm will ceteris paribus.
Susie's boss offers her $100 to come to work instead. In considering what to do, which of the above would be considered a sunk cost.
Elucidate why or elucidate why not. Does it matter whether the inflation is expected or unexpected.
Cigarettes are also heavily taxed. Illustrate what effect does this tax have on cigarette consumption
Presumptuous the demand curves were linear or graphically demonstrate your reasoning.
Explain how would you conclusion vary for winter months, if bad weather formulate it likely for traffic jams on the highway to increase to 6 days per month.
The effectiveness of different kinds of incentive systems: moral, material, and coercive.
Now? suppose? that? the ?first ?firm? has? a ?capacity ?of ?2 ?and? the? second? firm? has ?a ?capacity ?of ?4.
The law in Ruba says no worker shall be paid less than nine slugs per hour.
Do you think the industry environment is significantly different today explain.
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