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Suppose the exchange rate changes so that less Japanese yen are required to buy a dollar. We would conclude that a. the Japanese yen has appreciated in value b. U.S citizens will buy fewer Japanese imports c. Japanese will demand more U.S. exports d. all of the above e. none of the above
Since 1979, low income recipients have been given food stamps without charge. However before 1979, people bought food stamps at a subsidized rate. For example, to get $1 worth of food stamps a household paid about 20? (the exact amount varied by hous..
The initial price of a cup of tea is $1, and at that price, 400 cups are demanded. If the price falls to $0.90, the quantity demanded will increase to 500. Calculate price elasticity of demand for tea using the midpoint formula. Calculate the (point)..
Crowding out occurs when
Economies grow for a variety of reasons. Which of the following is not a primary cause of economic growth?
An individual purchases quantities a, b, and c of three different commodities whose prices are p, q, and r, respectively. The consumer spends m dollars, where m > 2p, and the utility function is given by Show that the optimal expenditure on the secon..
Using the following table, compute the 95% confidence intervals for the expected annual return of the four different investments.
During the energy crisis of the 1970s, and again in the last 5 years, Congress bemoaned the “price gouging” and “windfall” profits of the major oil companies. In the 1970s Congress imposed an “excess profits tax” on these companies. If “excess profi..
The Belford family owens a farm near San Angelo, Texas. Three alternatives exist for how to use the farm: a.) Grow cotton. Cotton yield would be 500 pounds per acre. The price of cotton is $0.96 per pound and production expenses are $ 285 per acre.
Assume that the central bank takes the drastic strategy in part 1, but that the private sector has rational expectations.
What do you believe should be the top spending priorities of the federal government? Do you believe the federal government has a responsibility in regard to health needs of citizens or do you believe that this is an issue better left to the various s..
Critically compare and contrast the policy approaches of TSCA and FIFRA. In your view, which of these is more effective in preventing pollution? Explain.
Demand is linear: p= A-by; cost is cy (marginal cost is c). What is oligopoly price and quantity when there are players? What happens to the total market supply as n goes to infinity?
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