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Imagine Congress passes a constitutional amendment the budget balanced at all times. That is G = T. Does this imply that the government can no longer use fiscal policy to affect employment and output?
A consumer has preferences for apples (A) and Oranges (Or) given by the utility function U(A,Or) = log(A) / 2 + log(Or) where log() is the natural logarithm function. The Marginal Utility for A is 1/2A and the marginal utility for Or is 1/Or. What i..
Describe the four basic types of market structures. Although there are many different examples of economies in the world, all of them demonstrate one or more of the four basic types of market structure. For this assignment, in your own words, Identif..
q.jennas boss has decided to pay her a one-time bonus of 5000. she decides to save the money until she retires 4 years
Some economists have suggested that we replace our system of taxpayer-guaranteed federal deposit insurance with a requirement that banks obtain deposit insurance from private insurers. Some economists argue that society would ultimately be better off..
q1. demand for a product of a monopoly is given as q100-2p.a graph demand and marginal revenue of the firm.b find the
Imagine which you are presently a college student working at a part time work. You have Concluded the subsequent as such sally projected expenses also revenues.
An eccentric scientist invents a very useful gadget and makes huge profits. Unfortunately, he is so preoccupied with his newly found fame and fortune that he forgot to secure a patent for his special product. What can be expected to happen to the sup..
Assume demand for a medical service is given by the equation P = 1000-2Q. Assume the price without insurance is $100, but insurance reduces the consumer’s out-of-pocket price to $50. How many extra services will be consumed as a result of the out-of-..
Assume that a consumer has the utility function U(x,y) = 3x+y, where x and y represent the quantities of two goods, X and Y. The consumer has I=$60 to spend on the two goods, and good Y costs py=$2 per unit. The price of good x, px, is also exogenous..
Research deflation in Japan and explain what happened to the equilibrium price level in Japan during the early 2000s. How did Japan's equilibrium price level adjust between the middle of 2008 and early 2010?
Find the Backward Induction solution of the game. How would the answer change if we reversed the roles of player 1 and 2 in the first two rounds of the game in c?
Jimmy’s preferences can be represented by the following utility function U = 2x + y. WealsohavePx =3,Py =3andW=100. What is Jimmy’s optimal consumption bundle? Calculate Jimmy’s income elasticity of demand for good x.
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